BUENOS AIRES (Pakistan Point News / Sputnik - 16th January, 2020) Argentina's 53.8 percent inflation rate in 2019 was the highest figure the South American nation has seen in 28 years, the National Statistics Institute said Wednesday.
It is second only to the rate recorded in 1991 when inflation surged to 84 percent, according to official figures published in the agency's report.
Consumer prices rose 53 percent year-on-year in December. Healthcare was the hardest-hit sector with a 72.1 inflation rate, followed by communications with 63.9 percent and food with 56.8 percent.
Argentina's economy has been in a free fall since the national Currency lost almost a fifth of its value in 2018. The new administration took over in December and is in talks with the International Monetary Fund and other creditors in a bid to rescue the region's second most inflation-hit country.
