Argentina inflation tops 100% for first time since 1991

A customer waits with his shopping cart at a fruit store in a local market, as Argentina's annual inflation rate tore past 100% in February, the country's statistics agency said on Tuesday, the first time it has hit triple figures since a period of hyperinflation in 1991, over three decades ago, in Buenos Aires, Argentina March 14, 2023. REUTERS/Agustin Marcarian

Inflation over 12 months clocked in at 102.5% in the second month of the year, government data showed, with a higher-than-expected 6.6% monthly rise in the Consumer Price Index , and a 13.1% year-to-date increase. "There's just nothing left, there's no money, people don't have anything, so how do they buy?" said retiree Irene Devita, 74, as she checked grocery price tags in a market fair in San Fernando on the outskirts of Buenos Aires."The other day I came and asked for three tangerines, two oranges, two bananas and half a kilo of tomatoes.

On the streets, inflation is all many people can talk about. It seeds frustration and anger as salaries often fall behind the cost of goods despite government schemes to cap prices and limit grains exports to boost domestic supply.

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