Inflation in Argentina in 2021 spiraled up 50.9%, becoming one of the highest figures in Latin America, according to the data provided by the National Institute of Statistics and Census of Argentina
BUENOS AIRES (Pakistan Point News / Sputnik - 14th January, 2022) Inflation in Argentina in 2021 spiraled up 50.9%, becoming one of the highest figures in Latin America, according to the data provided by the National Institute of Statistics and Census of Argentina.
"Customer prices increased by 3.8% in December 2021 compared to November and amounted to 50.9% in 12 months of the year," the statement said.
This figure is much higher than the one of 2020, when inflation in Argentina was estimated at 36.1%, but is close to the level of 2019 (53.8%), according to the statement. Hotel and restaurant services went up in price the most in December (5.9%), with alcohol and tobacco also becoming more expensive (5.4%), along with transport services (4.9%).
In September 2021, Argentina saw a sharp increase in inflation, which reached 3.5% compared to 2.5% in August. In October, Argentina established a temporary price control on sale of 1,432 mass consumption products across the country. This was not Argentina's first price freeze in the past few years against the backdrop of inflation. Since the beginning of 2021, inflation increased to 52.5% in September from August's 51.4%, making Argentina the country with the highest inflation rate in Latin America after Venezuela.
