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Argentina monthly inflation highest in three decades

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Argentina recorded an inflation rate of 12.4 percent in August, the highest monthly change in over three decades in a country dogged by chronic economic instability, the statistics agency said Wednesday.

Inflation over the past 12 months also soared to 124 percent, according to a report by the Indec agency.

It was the first time the country had hit double-digit monthly inflation since April 2002, when the figure stood at 10.4 percent. The highest previous monthly change was in 1991.

Argentines are already struggling to make ends meet after years of rising prices and currency volatility, and the latest figures come a little over a month before general elections.

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AFP

Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.







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