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

Copa America – What Was It All About?

Copa America – What Was It All About?

Copa America - What Was It All About?   Those that have dealings with Latin America will no doubt be aware that the Copa America football tournament has just finished after almost a month of competition. The Copa America, or English translation 'Americas Cup', is...

read more
Latin American News Roundup June

Latin American News Roundup June

  Latin American News Roundup June   As specialist logistics service providers to and from the region, Envío has summarised a few recent items of Latin American news from the month of June.   Bolivia - A Failed Coup  In La Paz, the Bolivian presidential palace...

read more
Latin American Retailers Set For Success

Latin American Retailers Set For Success

Latin American Retailers Set For Success   According to analysts at Fitch Ratings, one of the major statistical researchers of global capital markets, more stabilised inflation and gradually declining interest rates will benefit the retail sector in Latin America...

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.