Argentina’s consumer prices have risen more than 200% so far in 2023, reaching their highest level since the early 1990s. writes about this Finance Times.
Annual inflation in the country for 12 months was 211.4 percent. data Argentina’s statistical agency. Last month, this figure increased by 25.5%. Argentines’ purchasing power fell by an average of 10 percent in December; wages increased more slowly than prices.
As a result, in terms of consumer price growth, Argentina overtook Venezuela (+193% in 2023), which has long led Latin America in inflation.
According to analysts, inflation in Argentina will remain high in the January-February period. Experts say that in the spring the country is likely to experience positive changes associated with the coming to power of the new President Javier Miley. The new president has proposed an economic plan designed to moderate inflation and reduce the deep budget deficit.
Previously Argentina’s new president saidWhen the country feels the positive results of its work.