Argentina’s monthly inflation rate reached 25.5% in December 2023, according to the National Institute for Statistics and Census (INDEC, for its Spanish acronym). The inflation rate, published on Thursday, is the highest since February 1991. It was also the highest 2023 inflation rate in Latin America, surpassing Venezuela’s which was 193% according to the Venezuelan Finance Observatory. Food and non-alcoholic beverages have the highest impact on the inflation rate given the category’s influence on the index. A report by the Center of Argentine Economic Politics (CEPA, by its Spanish acronym) said that the 118% exchange rate jump was the main reason behind December’s inflation rate.

Source: Bueno Aires Herald January 12, 2024 13:58 UTC