Life in Argentina is almost twice as expensive as it was a year ago. New figures show that inflation has risen to 98.8 percent. That’s more than economists thought possible.
Compared to December, prices for Argentinian consumers were on average 6 percent higher in January. Food, among other things, has risen sharply in price.
Argentina has been burdened by numerous economic problems for years and it is not possible to get rid of the sky-high inflation. Current president Alberto Fernandez has also tried everything, such as freezing prices and certain restrictions on imports. But without real result. The Argentines are also not happy that inflation has recently risen sharply worldwide.
Is not too bad
Nevertheless, the current price increases in Argentina are not too bad if you compare them with the early 1990s. At that time, inflation in Argentina reached a level of 2600 percent. At the time, a deep economic crisis was raging and the Argentine government had to implement major reforms to help the country recover, which incidentally could not prevent a new crisis from occurring again in the late 1990s.