Argentina inflation speeds to fastest rate in a year (Adds details, graphic) BUENOS AIRES, Oct 16 (Reuters) – Argentina consumer prices rose 5.9% in September, the country’s statistics agency said on Wednesday, the sharpest jump in a year amid a flaring economic crisis in Latin America’s no.3 economy.That brought year-to-date inflation to 37.7%, the National Institute of Statistics and Censuses (INDEC) said, while rolling 12-month inflation was running at 53.5%.The jump comes after inflation began to stir again in August following a shock primary election defeat for market-friendly President Mauricio Macri, which triggered a sharp slide in the peso currency.
Price rises had been cooling down until then.Argentina, getting ready for presidential elections at the end of the month, has long struggled to tame inflation, which hurts consumers as wages fall behind fast rising prices.The monthly jump was the fastest since September 2018 when inflation rose 6.5% as the country was buffeted by debt and currency crises.Inflation in the grain producing country is expected to rise around 55% this year.
(Reporting by Jorge Iorio; Writing by Adam Jourdan; Editing by Sandra Maler) 2019-10-16 21:23:22
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