AmericasArgentina inflation spikes to 18-month high with meat prices in focus
Reuters
2 minutes read
Argentina consumer prices rose 4.8% in March, the fastest pace since late 2019, heaping pressure on the government as it looks to rein in stubbornly high inflation that is sapping growth and consumer spending power.
The monthly result, well above analyst forecasts of around 4%, saw 12-month rolling inflation hit 42.6%.
Economy Minister Martin Guzman said on Wednesday that March inflation would be the highest this year, though that price rises should cool from April.
The sharp rise was driven by food costs, especially politically-sensitive meat prices in the farming nation where families often converge on the weekend around the parrilla grill, and where beef is a key part of the social fabric.
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Argentina Inflation Speeds Up, Prompting Government Crackdown
Apr 15 2021, 1:04 PM
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(Bloomberg) Argentinaâs inflation accelerated last month at the fastest pace since President Alberto Fernandez took office in late 2019, prompting the government to tighten its unorthodox controls over companies.
(Bloomberg) Argentinaâs inflation accelerated last month at the fastest pace since President Alberto Fernandez took office in late 2019, prompting the government to tighten its unorthodox controls over companies.
Consumer prices rose 4.2% in March from February, according to the median forecast of economists surveyed by Bloomberg ahead of Thursdayâs release. Economy Minister Martin Guzman said Wednesday that inflation should cool in April after reaching its peak for the year last month.
Argentina Can t Afford to Delay Economic Reforms
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