The Strategist

Annual inflation in Argentina hits record 82.2%

10/06/2022 - 12:02

Annual inflation in Argentina has increased by a record 82.2%; experts anticipate a rise of up to 100%, reports Business Insider Polska.

Alex Proimos
Alex Proimos
President Alberto Fernandez's administration chastised business owners for their "pursuit of exorbitant profits" in the midst of the nation's growing inflation.

Independent economists reported that as at the end of September, the percentage was 82.2%. They forecast that inflation might be many times higher than in other Latin American nations, approaching 100%.

Famous sociologist Augustin Salvia from Argentina claimed that the nation's economy had entered a recession in the spring. He predicted that things would get worse in the fourth quarter.

The professor claims that this circumstance necessitates the establishment of social support programs for Argentina's citizens by the government.

"Inflation must be cut by at least 50% for the poverty rate in our nation's population to drop to a level no higher than 25–30%. However, to do this, the country’s economy must be stabilized," the expert concluded.



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