Economics
Argentina Inflation Surged to 20-Year High In March
- Consumer prices in Argentina rose 6.7% m/m in March; 55.1% y/y
- Rift between top two political leaders hampers inflation fight
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Argentina’s inflation rate galloped to its fastest pace in March since 2002, challenging a strategy by the government to cool prices that already lacked support from within the ruling coalition.
Consumer prices rose 6.7% last month compared to February, the highest level since Argentina was in one of its worst economic crises 20 years ago. Inflation reached 55.1% from a year ago, the highest annual level of President Alberto Fernandez’s presidency and most since June 2019. Both results were above all forecasts among economists surveyed by Bloomberg.