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
-
Religious intolerance in India under the Modi government has been a topic of concern and debate both domestically and internationally. The rise in incidents of religious discrimination, violence, and hate speech targeting minority communities has raised serious questions ab...
-
The Amazon rainforest, often referred to as the "lungs of the Earth," is facing unprecedented levels of deforestation, posing a severe threat to global biodiversity and climate stability. Recent satellite data has revealed alarming rates of tree loss in the region...
Facebook Comments