Argentina inflation hits 23.9%, second after Venezuela
[BUENOS AIRES] Argentina's inflation hit 23.9 per cent last year, according to official figures released on Friday, the second worst in South America after Venezuela, but the opposition says the figure is much higher.
The rate given by the Indec statistics agency is lower than the 38.5 per cent estimated by opposition lawmakers in Latin America's third-largest economy.
The official figure was calculated using a methodology agreed with the International Monetary Fund (IMF) after doubts were raised about the credibility of the country's inflation statistics.
In 2013, annual inflation was 11 per cent, but private analysts estimated it to be around 30 per cent.
In Venezuela, which has endured an economic downturn and basic food shortages, inflation skyrocketed to 64 per cent last year.
Argentina's economy has slowed down in the past year, which was marked by the nation's second debt default in 13 years.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Abu Dhabi’s IHC to buy back up to US$1.4 billion of its shares
Dubai’s financial centre expects ‘busiest year’ as firms rush in
Israel strikes Gaza city of Rafah after evacuation order
Britain's King Charles III marks first anniversary of coronation
German deficit forecast at 1.75% in 2024, says stability council
SNP veteran John Swinney set to be Scotland’s next leader