ARGENTINA recorded an inflation rate of 12.4% in August, the highest monthly change in over three decades in a country dogged by chronic economic instability, the statistics agency said Wednesday.

Inflation over the past 12 months also soared to 124%, according to a report by the Indec agency.

It was the first time the country had hit double-digit monthly inflation since April 2002, when the figure stood at 10.4%. The highest previous monthly change was in 1991.

Argentines are already struggling to make ends meet after years of rising prices and currency volatility, and the latest figures come a little over a month before general elections. – AFP, September 14, 2023.