Argentina's Inflation Rate Hits Highest Level of Macri Era
- Prices rose 3.9% in August from July, most since at least 2016
- Annual inflation marked 34.4%, likely to accelerate further
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Consumer prices in Argentina rose at their fastest pace in August since the nation’s statistics agency regained credibility in 2016, another sign that South America’s second-largest economy is heading for a recession this year.
Inflation reached 3.9 percent in August from July, the fastest pace the agency, known as INDEC, has reported since President Mauricio Macri overhauled it. The agency was widely discredited before that, with the previous government accused of fibbing the numbers. Prices rose 34.4 percent compared to a year ago, according to data published Thursday.