Argentina says 2018 inflation hits 47.6 per cent
Posted Jan 15, 2019 03:31:32 PM.
This article is more than 5 years old.
BUENOS AIRES, Argentina — Argentina says that consumer prices rose 47.6 per cent in 2018, the highest rate since 1991.
The annual inflation rate published by the official statistics agency Tuesday is also one of the world’s highest.
President Mauricio Macri has struggled to tame that inflation and Argentina’s peso currency also lost about half of its value last year.
The economic turmoil led the government last year to seek a $56 billion bailout with the International Monetary Fund.
Consumer prices rose 2.6 per cent in December over the previous month.
Top price increases for December were in communication, which rose 7.7 per cent and health, up 5.2 per cent. Increases in utility rates that are part of a series of austerity measures also fueled inflation.
The Associated Press
