Print Edition - 2018-07-19  |  Money Digest

Argentina’s inflation rises 3.7pc in June

BUENOS AIRES

Jul 19, 2018-

Argentina said on Tuesday that consumer prices rose 3.7 percent in June, bringing the 12-month nationwide inflation rate to 29.5 percent, one of the world’s highest. Consumer prices had reached 2.1 percent in the previous month, and 26.3 percent in the 12 months through May. The galloping inflation rate published by the official statistics agency comes after a sharp devaluation and a recent run on Argentina’s currency. The peso has tumbled about 30 percent so far this year. That led Argentina’s government to seek a $50 billion financing deal with the International Monetary fund earlier this year aimed at strengthening the struggling economy as it continues to fight double-digit inflation. (AP)

Published: 19-07-2018 08:21

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