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.
source: reuters.com
