Argentina Consumer Prices Hit Forecasts

Argentina’s consumer prices for January hit government targets of 1.3%. The government says the figures are a vindication of its strategy of price agreements, which it began implementing in December. However, many economists are dismissive of the policy, criticizing it for being short-termist and accuse the government of failing to address the roots of the country’s inflation. Last year, Argentina saw its highest rate of inflation since 2002, at 12.3%. This was the second-highest rate in South America, topped only by that of Venezuela at 14.4%.