The inflation rate in Argentina climbed to 47.6 percent. Especially the prices for food and Transport rose last year, according to the national statistics Agency Indec. The inflation rate in the South American country is one of the highest in the world. Finally, the prices of goods increased within a year in 1991 so strong. For the full year, 2019, the government expects an inflation rate of around 23 percent.
In the past year, Argentina was economically significant under pressure. President Mauricio Macri has not yet managed to reduce the huge state deficit and increase the competitiveness of the industry. Because of the interest rate hikes in the US, investors redirect their capital from the emerging markets back to the US market, which has set the economy of Argentina under pressure.
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The Dollar rose against the Peso for the past year to well over 100 percent, which was the strongest depreciation of the national currency since 2002. In view of the turbulence on the financial markets, the International monetary Fund (IMF) granted Argentina financial assistance in the amount of 56 billion US dollars.