Inflation rate in argentina averaged 194 80 percent from 1944 until 2020 reaching an all time high of 20262 80 percent in march of 1990 and a record low of 7 percent in february of 1954. The most recent figure is around 30.
However in order to contain the recession that followed on from the crisis argentina started printing money.
Argentina hyperinflation. A major factor in this is the legacy of poor fiscal discipline left by the economic. Inflation in argentina was 34 percent in 2018 expected to rise to nearly 53 6 percent the following year. Argentina consumer prices rose 53 8 in 2019 the biggest increase in 28 years marking a major challenge for the new administration of president alberto fernandez in latin america s no.
Argentina s long standing inflation problem is another element in the crisis. That is one of the highest in the world although not exceptional in argentina s. Since independence from spain in 1816 the country has defaulted on its.
The economic history of argentina is one of the most studied owing to the argentine paradox its unique condition as a country that had achieved advanced development in the early 20th century but experienced a reversal which inspired an enormous wealth of literature and diverse analysis on the causes of this decline. It followed the fifteen years stagnation and a brief period of free market reforms. Argentina recorded its biggest increase in prices last year since 1991 when the south american nation was recovering from hyperinflation.
This page provides the latest reported value for argentina inflation rate plus previous releases historical high and low. The inflation rate in argentina was recorded at 39 20 percent in august of 2020. Argentina s inflation rate is expected at 53 in december 2019 but will fall back to 34 the following year according to projections in the forthcoming 2020 budget treasury officials said on.
The argentine great depression was an economic depression in argentina which began in the third quarter of 1998 and lasted until the second quarter of 2002. Inflation started rising prior to the 1980s debt crisis. Argentina s president elect alberto fernandez takes the reins december 10 and pledges to resurrect the economy.
Still the populist leader faces competing demands from far left wings of his. The depression which began after the russian and brazilian financial crises caused widespread unemployment riots the fall of the government a. This led to an average annual inflation rate of 300 between 1975 and 1990.