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Argentines Brace for 90% Inflation After Guzman’s Shock Exit

  • Inflation expectations jumped after minister’s abrupt exit
  • Labor unions seen demanding new contracts, higher wages
Martin Guzman
Martin GuzmanPhotographer: F. Carter Smith/Bloomberg
Updated on

Argentines face the prospect of 90% inflation by year end after the economy minister’s exit triggered overnight price rises and the central bank comes under pressure to let the peso depreciate more rapidly. 

That would be the fastest pace since hyperinflation three decades ago, and the highest rate in the world outside Venezuela and Sudan, according to forecasts from the International Monetary Fund.