Argentina Inflation Up Again, Nearing 110% For The Year

BUENOS AIRES (AP) – Argentina’s government has announced that monthly inflation was 7.7% in March, up from 6.5% in the same month in 2022. Analysts project annual inflation — the measure used commonly internationally — will come in at 110% in 2023, one of the highest rates in the world. The impact has been devastating on Argentina’s retirees, 85% of whom receive a monthly pension averaging the equivalent of $265. This barely covers a third of their expenses for food, medicine and rent. After years of high inflation, Argentina’s minimum pension measured in U.S. dollars is one of the lowest in the region, just above Venezuela.