Inflation in Argentina Reaches 32.4% in 2018

October 18, 2018

The National Institute of Statistics and Censuses of Argentina (Index) reports that so far in 2018, inflation has grown to 32.4% percent in Argentina according to a report published on Wednesday

While the accumulated inflation over the course of this year stands at 32.4%, in the last 12 months it has soared to 40.5%. The Index revealed that the rise was led by items related to transportation, clothing, footwear and food.

Likewise, the September inflation index registered 6.5% in addition to the rise in prices of 34% on all products, According to the statistical agency’s Consumer Price Index (CPI). This represents the highest index in the last nine months since the beginning of the administration of Mauricio Macri and also – according to data reported to the International Monetary Fund (IMF) – was higher than the inflation that 145 countries had in 2017.

Macri’s government is increasingly becoming the target of criticism and accusations due to its anti-popular measures, among them the tariffs for basic services, transportation, massive layoffs, as well as the loan granted by the IMF which virtually handed over the country to this financial body. These facts have turned Macri into one of the most unpopular presidents in South America according to several polls.

Source: HispanTV, translation Resumen Latinoamericano, North America bureau