Argentina Inflation Rises To Over 100%

March 16, 2023

Argentina Inflation Rises To Over 100%

Inflation in Argentina has now soared past the 100% mark, which is the first time since the hyperinflation levels of over thirty years ago.

A rate in February of 102.5%, means that costs of consumer goods have effectively doubled during the past twelve months, according to the country’s consumer price index.

The price of meat is reported to have heavily impacted the recent hike, rising by almost 20% in the space of a month, following a prolonged heat-wave and drought impacting livestock and crops. Food and drink collectively increased by 9.8% between January and February.

Argentina’s government has been trying to get a grip on the issue by capping the prices of food and other products. However, it is a country that has been in economic difficulty for years, and many of its 45 million population are now living in poverty.

The country’s government are reported to be struggling to keep pace with the repayment plan of its $44bn loan deal agreed with the IMF (International Monetary Fund) in 2022.

Other News

Uruguay Launches New Rail Freight Corridor

Uruguay Launches New Rail Freight Corridor

  Uruguay Launches New Rail Freight Corridor Luis Lacalle, Uruguay's president, has recently inaugurated the Ferrocarril Central de Uruguay - a new rail corridor primarily for freight, which connects Paso de los Toros, in central Uruguay, to the port of Montevideo....

read more
Envío’s Josh Gets Ready For London Marathon

Envío’s Josh Gets Ready For London Marathon

  Envío's Josh Gets Ready For London Marathon Over 50,000 runners will be setting off from Greenwich in this Sunday’s London Marathon, as they stagger their starts from 8:15am. Among the many that are hoping to be running down The Mall to finish the race this year is...

read more
Latin American News Roundup March

Latin American News Roundup March

  Latin American News Roundup March   As specialist logistics service providers to and from the region, Envío has summarised a few recent items of Latin American news from this month.   Argentina - New President's Austerity Agenda Amid growing social tensions,...

read more
Brazil’s Ports Are 50 Years Behind The Times

Brazil’s Ports Are 50 Years Behind The Times

Brazil's Ports Are 50 Years Behind The Times Brazil's President - Luiz Inácio Lula da Silva (Lula) - has embarked on a new drive to put the nation's ports and terminals into private hands this month, following a damaging report that suggested they were 50 years behind...

read more

Follow us on social media

Get A Quote

In need of confirmed pricing? Use our online form to receive a quote back quickly.

LCL Services

Find out more about our global LCL services. 

FCL Services

Find out more about our global FCL services.