Inflation in Argentina ended 2019 at 53.8%, the highest figure since 1991 when the peso was pegged to the US dollar, data institute Indec said on Wednesday. Indec said the cost of living increased by 3.7% in December alone.
Argentine Central Bank President Guido Sandleris Tuesday admitted inflation remains high, but he forecast July's figures will be smaller than those of June in light of the current clear trend to the downside.
Argentina’s stubbornly high inflation accelerated again in February, the government said on Thursday, sparking the central bank chief to pledge new measures to rein in rising prices that have dogged the South American economy over the last year.
The Argentine stock market is booming and on Thursday confirmed its seventh day running increase as investors are flocking encouraged by an imminent accord between the president Mauricio Macri administration and the IMF for a new loan package including reforms and a balanced budget in the next 18/24 months.
More Argentines are likely living in poverty now compared with last year, President Mauricio Macri said on Friday, as the country's economy slides toward recession following a currency crisis and a severe drought that harmed farm output.
Argentina’s economy will return to growth in 2019, President Mauricio Macri said on Wednesday, following a year marked by higher-than-expected inflation and a run on the Peso currency that many economists anticipate will lead to a recession.
Argentina's Consumer Price Index (CPI) rose by 1.8% in January 2018, after increasing 3.1% in December 2017, said the country's statistics office Indec. Despite the deceleration, the reading was higher than market expectations for the monthly consumer price inflation (+1.5%). The result was primarily influenced by higher costs for entertainment and culture (+3.5%).
Lawmaker and member of the Argentine Industrial Union (UIA) José Ignacio de Mendiguren said that inflation is not 40% as some private indexes say, but he pointed out that it is not around 24% as the government says either. “I think it is over 30%,” he said.
A reliable universally accepted rate of inflation in Argentina seems hard to come by although there are a battery of estimates, each of them arguing they are supported by statistically proven methods and thus the certainty of the indexes released.
Argentine nationalized energy company YPF warned on Tuesday that inflation in the country may keep rising and affect its results, a rare admission considering the company is controlled by a government known for playing down the problem.