That rise, if confirmed, would mark an acceleration for prices after a 5.1% bump in December, renewing the challenge for the Peronist government. Argentina has one of the highest inflation rates worldwide, which hurts people’s spending power and savings with wage hikes often falling behind prices, something that has hit President Alberto Fernandez hard in public opinion polls. Argentina economy minister Sergio Massa said in December that his aim was to reach monthly inflation below 4% in April. A central bank poll suggests 2023 inflation could near 100% after ending last year at 95%, the highest since 1991. The country’s official statistics body INDEC is expected to release official January inflation data on Tuesday.

Source: Bueno Aires Herald February 13, 2023 22:35 UTC