### Summary
Inflation in Argentina has reached 113%, pushing 40% of the population into poverty, as the country faces an economic collapse that could see the far-right return to power under Javier Milei, a rock-singing former sex coach who has threatened to abolish the central bank.
### Facts
- 💸 Argentina is experiencing an economic collapse with annual inflation reaching 113%, its highest in over 30 years.
- 💰 Inflation has pushed 40% of the population into poverty as soaring prices outpace wages.
- 📉 The crisis escalated when the central bank raised interest rates to 118% to halt a sell-off in government bonds and the Argentine peso, which hit a record low against the dollar.
- ⬇️ Inflationary pressures forced officials to devalue the peso by 18% on Monday, which some economists believe may fuel further inflation, possibly reaching 150%.
- 🏛️ The far-right, led by Javier Milei, a rock-singing former sex coach, has gained popularity and threatens to abolish the central bank if they come to power.
- 🌎 This serves as a stark contrast to the inflation battle faced by the Bank of England, where inflation stands at 6.8% and interest rates have been raised to 5.25%.
Argentina should focus on fiscal spending cuts and a recession rather than adopting the dollar as its currency to address the recent peso crash, according to an economist.
Argentina is facing the highest triple-digit inflation in over three decades, potentially reaching near 200% by year-end, which is causing increased poverty, anger among voters, and memories of past economic crises.
Argentina's Consumer Price Index likely rose 11.8% in August, the highest monthly figure since 1991, due to a sharp devaluation of the local peso currency and the country's ongoing inflation crisis.
The COVID-19 pandemic and the expiration of pandemic-era programs have led to a rise in child poverty and an increase in the overall poverty rate in the US, while household income has fallen and inflation has soared, according to the US Census Bureau.
Argentines face daily challenges in trying to find deals and lower prices as the country's inflation skyrockets above 100%, leading to a cost-of-living crisis and increased poverty levels.
Argentina is facing skyrocketing inflation, with consumer prices soaring by 12.4 percent in August and an annual inflation rate of 124.4 percent, putting the ruling coalition on the defensive ahead of the upcoming presidential race.
Uruguay's central bank is thriving with low inflation, a strong currency, and a pivot towards interest rate easing, while Argentina's economy struggles, highlighting the diverging paths of the two neighboring countries.
Bitcoin's price in Argentine pesos has risen significantly, but due to high inflation rates in Argentina, it has not been a reliable store of value compared to the US dollar.
Argentina is facing a currency crisis and high levels of inflation, but the annual Mundial de Tango competition continues to take place amidst the economic chaos.
Argentina is facing a presidential election amid an economic crisis marked by soaring inflation, recession, and a high poverty rate, with leading candidates divided over how to address these issues, including a suggestion to dollarize the economy.
The handwritten notebooks of a Buenos Aires barber chronicle the devastating impact of Argentina's 19,900% inflation over several decades, with current President Alberto Fernandez overseeing the fastest price rises in the past 30 years, driving up poverty rates and causing a decline in purchasing power.
The notebooks of a Buenos Aires barber chronicle 19,900% inflation in Argentina over three decades, with current President Alberto Fernandez experiencing the fastest price rises of any administration, creating a cost of living crisis and driving voters towards a right-wing radical.
Argentina's peso hits a historic low of 1000 pesos per US dollar on the black market as the country's inflation remains high and uncertainty ahead of the presidential elections increases demand for hard currency.
Argentina's central bank has raised its key rate for the sixth time this year to 133% in an attempt to control inflation, which has surged above 100% ahead of the presidential election; however, economists believe the rate hike will have little impact as it is coupled with money printing and falls below inflation in real terms.
Argentina's central bank raised the country's benchmark interest rate to 133% from 118% due to worse-than-expected inflation data, exacerbating the economic crisis ahead of the upcoming presidential elections.
Argentina's central bank has raised the benchmark interest rate to 133% as inflation data shows a higher-than-expected increase, exacerbating the country's economic crisis ahead of the upcoming presidential elections.
Despite Javier Milei leading the polls and proposing dollarisation, Argentina's economic problems are deeply rooted in political issues and require more than just a quick fix.
Argentina is facing a severe economic crisis with high inflation, dwindling foreign reserves, capital controls, and a looming recession, as voters prepare to choose between three presidential candidates in the upcoming election.
