Inflation in Argentina reached a record 211% since 1991 – Kommersant
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In December, consumer prices in Argentina grew up by 211.4% in annual terms. This is the highest inflation rate since 1991. Compared to November, prices in December increased by 25.5%.
Experts associate the acceleration of inflation in Argentina with the actions of the country’s new president, Javier Miley. Mr. Miley, known for his libertarian views, immediately after taking office signed a decree on carrying out several hundred economic reforms aimed at reducing government regulation of the economy. In particular, the Argentine peso was devalued by 54%, and agreements on fixing prices for a number of goods were cancelled.
Mr. Miley himself previously called the situation in Argentina an “inflationary catastrophe,” calling on his fellow citizens to prepare for a difficult six months, when inflation will be high and economic growth will slow down due to the cancellation of government support measures. According to Mr. Miley, in the future these measures should help reduce the budget deficit and reduce inflation rates.
How Javier Miley strengthens ties with Washington – read in the Kommersant publication “The President of Argentina traveled to the USA for spiritual food and daily bread”.
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