- Islamabad
- 29.9°C
- Today ( Thursday, 24 April 2025)
- Home
- South America
- Argentina Records Alarming 211.4% Annual Inflation Rate
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.
-
Rescue efforts continue in Myanmar after a 7.7-magnitude earthquake struck on Friday, killing at least 1,644 people. In Mandalay, near the epicenter, a woman was pulled alive from the rubble after 24 hours.
-
Israeli forces launched a new ground assault on Rafah, southern Gaza, as 24 more Palestinians were killed on Saturday. Meanwhile, Hamas has accepted a ceasefire proposal brokered by Egypt and Qatar, but Israel has submitted a counter-proposal.
As Ramadan ends, Pal...
Get Newsletter
Subscribe to our newsletter to get latest news, popular news and exclusive updates.
Facebook Comments