Argentinians says prices have spiked with each weekly visit to the store [File: Mariana Nedelcu/Reuters]
Reuters: 'Zero capacity to save': Argentines buckle as inflation tops 104%
BUENOS AIRES, April 14 (Reuters) - Argentina's annual inflation rate soared to 104.3% in March, the official statistics agency said on Friday, one of the highest rates in the world, straining people's wallets and stoking a cost-of-living crisis that has pushed up poverty.
The inflation reading for the month came in at 7.7%, well above analyst forecasts of 7.1%, marking the fastest monthly rise since 2002 and piling pressure on the government which is contending with angry voters ahead of elections in October.
"I try to think that someday we're going to be better off. But the inflation we're living with today in Argentina is terrible. It feels like never before," said Claudia Hernansaez, a publishing company employee. "In my case, I have zero capacity to save."
The soaring prices have hammered salaries and spending power, pushed up poverty to near 40%, and dented the popularity of the governing Peronist coalition as general elections near.
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Update: Argentinians buckle under 104.3 percent inflation (Al Jazeera).
WNU Editor: Argentina is not the only country facing sky-high inflation rates .... Nigeria suffers 17-year high inflation despite monetary policies (Punch). The upcoming Turkish election will also being impacted by inflation .... Will Turkey’s inflation crisis damage Erdogan’s re-election chances? (France 24).
5 comments:
I have family in Argentina and they are telling me about how hard it is to get enough money for basic stuff like food and services or you eat or pay your bills can’t do both…. But inflation is something they are used to .
Inflation is the fault of the government yet the foolish peoples keep electing the governments that are ruining them!
Cue the massive civil unrest in 4 ... 3 ... 2 ...
Hm.. I think in response to this news I will put my blinders on and ignore that we're on the same path.
It's not a spike with no sharp decline on the other side
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