The Strategist

Inflation in Argentina hits its highest since 1991

09/14/2023 - 03:20

The biggest price increases throughout the month were seen in food, home goods, and medical services.

Alex Proimos
Alex Proimos
In August, Argentina experienced its greatest rate of price growth since 1991, at 12.4%, show figures released by the Institute of Statistics and Census of the Republic.

"The consumer price index climbed overall in August 2023 by 12.4%, representing a cumulative [YTD] growth of 80.2%. The increase was 124.4% when compared to the same month a year prior," commented the analysts.

The authors claim that August had the largest increase (15.6%) in food costs. They were followed by domestic appliances (+14.1%) and health services (+15.3%).

Argentina has been among the nations with the highest inflation rates for many years.