•The National Institute of Statistics and Census of Argentina released February’s CPI numbers, which registered an increase of 6.6%.
•The number is among the highest in the history of Argentina, reaching more than 100% growth year-on-year (YoY) for the first time since the 90s.
•Local economists have expressed their worries about the acceleration of prices in the country and are calling for changes to economic policies.
Argentina Registers Record CPI Levels in February
The National Institute of Statistics and Census in Argentina released the inflation numbers for February, alarming local analysts. According to the report, February’s monthly CPI reached 6.6%, a higher number than the 6% registered in January. The rise was mostly caused by the increase in prices of food and beverages, which grew by 9.8%, hitting the pockets of Argentines. Inside this sector, meats spearheaded the hike, with prices rising by more than 30% in some cases. Inflation reached record yearly levels, with prices rising 102.5% YoY, the highest number in more than 30 years. Even with this unprecedented behavior, analysts are predicting a further acceleration for March, which would thwart the expectations of the government of maintaining the CPI under 100% for 2023. The numbers of Argentina are second highest in Latam only trailing behind Venezuela’s year-on-year CPI at 155.8% in October .
Local Economists Worried
Local economists have expressed their worries about the acceleration of prices in