Argentina’s Inflation Exceeds 100 Percent in February
Argentina’s annual inflation has shot past 100 percent for the first time in three decades, with the country’s citizens finding it difficult to make ends meet due to the rising prices.
Twelve-month inflation for February 2023 came in at 102.5 percent, according to data (pdf) from the country’s statistics agency. This essentially means that the price of goods has more than doubled in the past year. This is the first time since a period of hyperinflation in 1991 that Argentina’s annual inflation hit triple figures. On a monthly basis, inflation rose by 6.6 percent from January 2023. Year-to-date inflation was at 13.1 percent.
Food and non-alcoholic beverages saw a 9.8 percent monthly increase, followed by communications at 7.8 percent, restaurants and hotels at 7.5 percent, alcoholic beverages and tobacco at 5.2 percent, transportation at 4.9 percent, and electricity and water services at 4.8 percent….