Argentina’s inflation hits 103% year over year.
This is the first time since 1991.
Per Reuters:
Argentina’s inflation hits 103% year over year
3/15/2023
Food and drink are among the items that appreciated the most, with a 9.,8% increase in February compared to the previous month, followed by IT and communications (7.8%) and hospitality (7.5%).
To combat the rising prices and the depreciation of the Argentinian peso, the government of President Alberto Fernandez has subsidized a series of protected foreign exchange rates dedicated to specific sectors of the economy, effectively making it cheaper for certain businesses to purchase dollars on the exchange market.
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