Argentina's Inflation Rate Continues to Soar

Inflation Rate Reaches Record High

Argentina's inflation rate reached 27640 percent in May, up from 29220 percent in April. This is the highest inflation rate since the early 1990s, when Argentina experienced hyperinflation.

Government Spending Cuts

The government has implemented a number of measures to try to curb inflation, including cutting public spending. This has helped to reduce the fiscal deficit, but it has also led to a slowdown in economic growth.

Inflation Soars Past 100%

Argentina's inflation rate has now soared past 100 percent for the first time since the end of hyperinflation in the early 1990s. This is a major concern for the government, as it makes it difficult to plan for the future and can lead to social instability.

Monthly Inflation Rate Decreases

Despite the high annual inflation rate, the monthly inflation rate has actually decreased in recent months. This is due to a number of factors, including the government's spending cuts and a slowdown in economic growth.

Annual Inflation Rate Reaches 2114%

Argentina's annual inflation rate reached 2114 percent in December, confirming the depth of the country's economic crisis.