Argentine consumer prices rose 3.1% in May, the government’s official statistics agency said on Thursday. Accumulated inflation in the 12 months through May came to 57.3%, and year-to-date inflation was 19.2%, according to the National Census and Statistics Institute, known by its acronym, INDEC.
Argentina’s industrial output fell 8.8% in April compared with the same month a year ago, official data showed on Wednesday, marking 12 straight months of production losses as the economy struggles with recession and rapidly-rising consumer prices.
Argentina's beleaguered industrial activity fell 10.3% in April due to the peso's devaluation coupled with rampant inflation, the Argentine Confederation of the Medium-Size Company (CAME) reported over the weekend.
US President Donald Trump spoke with Argentina's leader Mauricio Macri on Wednesday and voiced support for the country's economic reforms, the White House said in a statement.
Latin American currencies ended on a high note on Friday against a weaker dollar after robust U.S. jobs data painted a brighter picture for global growth and gave the U.S. central bank more reason to stay on its dovish path.
Argentina’s embattled peso gained strength on Monday after the central bank said it would ease limits on its foreign exchange market interventions, signaling its willingness to sell reserves in an effort to better control the volatility of the local currency. The peso began the session up 3.37% and closed 3.56% stronger at 44.37 per U.S. dollar.
A national strike will halt much of shale-rich Argentina's economy on Tuesday amid growing investor concern that market-oriented president Mauricio Macri will lose a bid for re-election in October, swinging Argentina back toward state intervention.
Argentine bonds and the country’s embattled peso currency fell for a second day on Thursday, cranking up the challenge facing President Mauricio Macri as his drop in the polls ahead of knife-edge elections later this year unnerves investors.
Argentine economy Minister Nicolás Dujovne stated that political uncertainty ahead of the upcoming presidential election this October is the main factor for increases in Argentina's country risk and instability on the exchange markets.
An official with the International Monetary Fund has declared that the increase in the poverty rate in Argentina could force the government to rethink its spending plans and “protect the poor.”