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Argentine President Calls for Extraordinary Inflation Steps

  • Argentina raises export taxes on soy meal, soy oil to 33%
  • February data posted Tuesday showed prices rose 52% on year
Alberto Fernandez in 2021.
Alberto Fernandez in 2021.Photographer: Sarah Pabst/Bloomberg
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Argentine President Alberto Fernandez called on his government to implement “all necessary measures” to combat 52% inflation that’s been aggravated by the surge of global commodity prices due to Russia’s invasion of Ukraine.  

In a somber, 18-minute speech, Fernandez said his ministers would start rolling out new measures as of Saturday without providing specifics. Earlier in the week, he declared a “war on inflation” shortly before data posted Tuesday showed prices accelerating for a third straight month in February.