A single person in a grocery store aisle looking at prices and products. File photo.
This Wednesday, April 13, it was reported that Argentina registered its highest inflation in the last 20 years during the month of March, reaching a figure of 6.7% for that single month, while the interannual rate stood at 55.1%.
This information was released by the National Institute of Statistics and Censuses (INDEC) via Twitter. Venezuela and Argentina have been the countries in the region most afflicted by inflation in recent years. Especially Venezuela, which was hit hard by a hyperinflation spiral that affected millions of Venezuelans from 2018 until 2021. Last March, the Central Bank of Venezuela reported that the month’s inflation stood at 1.4%, the lowest in almost 10 years.
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INDEC stated that, in Argentina, “consumer prices in March, 2022, rose 6.7% compared to February’s, and 55.1% year-on-year, with an accumulated rise of 16.1% in the 1st quarter.”
#DatoINDEC
Los precios al consumidor (#IPC) subieron 6,7% en marzo de 2022 respecto de febrero y 55,1% interanual. Acumularon un alza de 16,1% en el 1° trimestre https://t.co/EKX6m9uEoj pic.twitter.com/gROwLZIVmv— INDEC Argentina (@INDECArgentina) April 13, 2022
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In this regard, the INDEC report noted that the high rate of inflation in Argentina was caused in part by the education sector, which registered an increase of 23.6%.
This sector was followed by clothing and shoes with a 10.9% rise. Food and non-alcoholic beverages continue to rise as well with an increase of 7.2%. On this last point, the increase in items such as bread, cereals, milk and dairy products, eggs, meat, sugar and sweets is alarming.
For his part, the minister for the economy, Martín Guzmán, said last Monday that “indeed, inflation for the month of March is going to be the highest of the year.” He also added that these numbers would remain high during the month of April. However, at the Palacio de Hacienda they attribute this rise in inflation to the “international context.”
Featured image: A shopper in a grocery store aisle looking at prices and products. File photo.
(Últimas Noticias) with Orinoco Tribune content
Translation: Orinoco Tribune
OT/JRE/KW
