Inflation in Argentina reaches 32-year high

Consumer prices in Argentina rose 124.4 percent in August compared to the same month a year earlier. Argentina’s annual inflation rate rose to 124.4 percent in August, its highest since 1991. Market expectations were for the increase to increase from 113.4 percent to 122.6 percent. This is Argentina’s worst period since it emerged from a hyperinflation crisis in the early 1990s. Inflation reached its highest level since 1991. Monthly inflation rose 12.4 percent.