Argentina closed 2023 with 211.4% inflation and surpassed Venezuela | EUROtoday

The Ministry of Economy identified that the determine of 25.5% in December is “clearly better than expected”

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Argentina closed the yr 2023 with a 211.4% inflation, a report determine that takes it to surpass Venezuela to turn out to be the nation with the very best value enhance in Latin America.

“The government of Alberto Fernndez y Cristina Kirchner ended his mandate leaving Argentines with the highest inflation in more than three decades,” the newspaper highlighted. Nacin.

“The price increase in December was 25.5 percent, according to the Indec (National Institute of Statistics and Censuses), and 2023 ended with an incendiary advance of 211.4% in 12 months. To find such a significant variation we have to go back to 1990, a year marked by the emergence of hyperinflation,” the newspaper added.

In it Ministry of Economy They informed native media that the determine of 25.5% in December is “clearly better than expected,” since non-public estimates predicted 30%. Even the president Javier Milei, who took workplace on December 10, stated days in the past that 30 could be “a big number,” since in his opinion inflation was modified to 45% month-to-month upon assuming the presidency.

“There is nothing to celebrate, but there is the peace of mind that I avoided something much worse,” he quoted Clarn to the president. “In the third week of December we were already with projections above 30 points and 45% for the entire month. What happened in the middle? The measures we took and the decision not to validate the increases with issuance. We stopped the issuance and that had a positive impact.”

mercy He is the primary economist to turn out to be president Argentina, and the good in style mandate that allowed Peronism to win the runoff with 55.6% of the votes entails fixing the nation’s power financial disaster, beginning with inflation.

In Venezuela, inflation in December was 3.9% and 193% yearly in 2023. The remainder of the South American nations exhibit annual inflation charges within the single digits.