President Javier Milei, who has been in office for just over a month, is looking to employ tough austerity measures to bring down inflation, reduce a deep fiscal deficit and rebuild government coffers.
BUENOS AIRES — Argentina’s annual inflation rate sped past 211% in December, official data showed on Thursday, hitting the highest level since the early 1990s as new libertarian President Javier Milei seeks to head off hyperinflation with tough austerity measures.
“We’ve had to eliminate things that made life a little brighter,” said retiree Susana Barrio, 79, adding she no could longer afford to invite her friends for asado barbecues, long a key part of Argentine social life.
While high inflation has dogged Argentina for years, the rate of price increases is now at the highest level since the start of the 1990s, when the country was emerging from a period of hyperinflation, with food prices climbing particularly fast.
President Javier Milei, a political outsider who rode to power on the back of voter anger at the worsening economic situation, is looking to employ tough austerity measures to bring down inflation, reduce a deep fiscal deficit and rebuild government coffers.
“Nothing is cheap,” said Graciela Bravo, a 65-year-old retiree, who said she now carefully counted how many potatoes she bought.
Alejandro Grossi, 49, a lawyer, said he was wearily used to rising prices after years of inflation.
The original article contains 378 words, the summary contains 196 words. Saved 48%. I’m a bot and I’m open source!
This is the best summary I could come up with:
BUENOS AIRES — Argentina’s annual inflation rate sped past 211% in December, official data showed on Thursday, hitting the highest level since the early 1990s as new libertarian President Javier Milei seeks to head off hyperinflation with tough austerity measures.
“We’ve had to eliminate things that made life a little brighter,” said retiree Susana Barrio, 79, adding she no could longer afford to invite her friends for asado barbecues, long a key part of Argentine social life.
While high inflation has dogged Argentina for years, the rate of price increases is now at the highest level since the start of the 1990s, when the country was emerging from a period of hyperinflation, with food prices climbing particularly fast.
President Javier Milei, a political outsider who rode to power on the back of voter anger at the worsening economic situation, is looking to employ tough austerity measures to bring down inflation, reduce a deep fiscal deficit and rebuild government coffers.
“Nothing is cheap,” said Graciela Bravo, a 65-year-old retiree, who said she now carefully counted how many potatoes she bought.
Alejandro Grossi, 49, a lawyer, said he was wearily used to rising prices after years of inflation.
The original article contains 378 words, the summary contains 196 words. Saved 48%. I’m a bot and I’m open source!