Big League Politics By
In February, Argentina’s annual inflation rate topped 100%, per figures from the country’s statistics agency that were released on March 14, 2023. According to a Reuters report, this is the first since Argentina’s hyperinflationary episode in 1991.
Inflation recorded over a 12-month period was around 102.5%, with an alarming 6.6% monthly increase in the Consumer Price Index (CPI), and a 13.1% year-to-date increase.
While Argentina pales in comparison to its counterpart in Venezuela in terms of inflation, it could potentially fall down a hyperinflationary path if it doesn’t get its fiscal and monetary affairs in order. Latin America is a region that is rife with economic instability and political corruption. Currency collapses are something to expect during any given decade. Argentina may just be the next country to experience an explosion in its currency, the Argentine peso.
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