LatinNews Daily - 16 March 2022

In brief: Argentina’s inflation soars

* Argentina’s national statistics institute (Indec) has published the latest consumer price index (IPC) which showed that monthly inflation reached 4.7% in February, driving up the annual rate to 52.3%. This is the highest monthly rise since March 2021 (when it was 4.8%) and the highest annual rise since September 2021 (when it was 52.5%). The steepest monthly price increases in February were in food and non-alcoholic drinks (7.5%) and transport (4.9%). Argentina’s economy minister, Martín Guzmán, attributed the surge to the rise in international commodities’ prices due to drought and Russia’s invasion of Ukraine. The government led by President Alberto Fernández has said that it will announce measures later this week to mitigate the impact of surging inflation.

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