In terms of inflation, Argentina is ahead of Venezuela: there, in 2023, price growth will drop to 193%.
The annual inflation rate in Argentina has exceeded 211%: the rate of price growth is at the highest level since the early 1990s, reports Reuters.
It found that monthly inflation in Argentina reached 25.5% after a sharp devaluation of the peso in December 2023 – after newly elected President Miley took office promising to control inflation.
In terms of inflation, Argentina is ahead of Venezuela: there, in 2023, price growth will drop to 193%.
President Javier Miley seeks to implement strict austerity measures to bring down inflation.
Last December, the Argentine government announced the devaluation of the peso by more than 50% and announced significant cuts in government spending as the first step in the country’s new president, Javier Miley’s “shock therapy” program.
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.