Latest
Argentina Records Alarming 211.4% Annual Inflation Rate
Argentina has reported an annual inflation rate of 211.4% in December, highlighting the severity of the economic crisis facing the country under its new libertarian President, Javier Milei. The monthly inflation rate surged to an average of 25.5% in December, compared to a 12.8% increase in November. This alarming rate is the highest since 1991, when Argentina was emerging from a period of hyperinflation. Argentina's chronic high inflation is largely attributed to the previous governments' reliance on money printing to fund expenditures—a practice that President Milei opposed during his campaign. The economic challenges intensified in December as Milei devalued the peso's artificially high official exchange rate by 54% and allowed price-fixing agreements to lapse, impacting food prices significantly.
About The Author
Zabitah is a digital space dedicated to fostering open dialogue, understanding, and progress in our ever-evolving society. Zabitah believes in the power of unbiased information, constructive conversations, and diverse perspectives to shape a better tomorrow.
You Might Also Like
-
In a striking display of skill, Spain secured a commanding 4-1 victory against the world number 3 team, India. The Spanish team made an impactful start, with Pol Cabre Verdiell scoring a sensational reverse shot just a minute into the game. Andreas Rafi extended Spain's...
-
In a move that sparked condemnation from rights and aid organizations, the United States vetoed a U.N. Security Council draft resolution on Friday. The resolution, which enjoyed nearly unanimous support from member states, called for an immediate cease-fire in Gaza and the ...
Facebook Comments