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Economics
Inflation & Prices

Argentina’s Annual Inflation Spikes to 88% and May Top 100%, Exceeding G-20 Nations

  • Consumer prices in October increased 6.3% m/m vs. 6.7% est.
  • Government froze prices on over 1,700 products last week
A woman checks the price of an item at a grocery store in Buenos Aires, Argentina.

A woman checks the price of an item at a grocery store in Buenos Aires, Argentina.

Photographer: Diego Levy/Bloomberg

Argentina’s annual inflation surged last month as the government implements price freezes on over a thousand consumer goods in attempt to cool cost-of-living increases.

Consumer prices rose 88% in October from a year ago, surpassing Turkey’s 85.5% rate for the highest among Group of 20 nations, according to Argentine government data published Tuesday. Inflation accelerated 6.3% on a monthly basis, less than the 6.7% median estimate from economists surveyed by Bloomberg.