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HomeEconomyArgentina inflation nears 80%; rising prices squeeze shoppers

Argentina inflation nears 80%; rising prices squeeze shoppers

Hernan Nessi and Miguel Lo Bianco

BUENOS AIRES (Reuters) – Argentina’s monthly inflation beat expectations of 7% in August, surging to near

percentage from a year earlier, the government agency reported on Wednesday despite efforts by officials and central bankers to contain price increases.

Monthly inflation data reported by INDEC Statistics was down from 7.4% in July but above the 6.6% forecast by analysts in a Reuters poll. Rising global food and fuel costs have exacerbated the situation and dented the popularity of President Alberto Fernandez’s center-left government ahead of next year’s elections.

The government has urged retailers to freeze some prices, with some supermarkets rationing staples such as flour, sugar and milk to control prices. Shopping costs are still soaring.

“From one week to the next, you seem to be spending twice as much,” Graciela Negretti, one 38 – Buenos Aires S Allis, a one-year-old retiree, told Reuters. sky. ”

Inflation rate for 12 months to August reached 78 .5%, while prices rose 56.4% in the first eight months of the year. A recent poll by the Central Bank predicted that inflation in Argentina will reach % while some private analysts predict it will reach %.

INTERIOR DESIGN Teacher Lucia Estevez told Reuters that many people did not make it to the end of the month as inflation devalued their wages, forcing people to cut back on the little luxuries they once enjoyed.

“You’re always trying to make ends meet,” she said. “You never have anything extra to treat yourself with. ”



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