Inflation in Argentina rises by 30% in 4 Months, one of the highest inflation rates in the world

Inflation in Argentina has continued to rise, showing a 30% increase over the four months of 2023, the Argentine National Institute of Statistics and Censuses announced on Friday.

"Consumer prices in April rose by 8.4% compared to March and by 108.8% year-on-year. Inflation rose by 32% since the turn of the year," the institute said in a fresh report on the consumer price index, RIA Novosti reported.

Prices of shoes and clothing rose the most in April (10.8%), while the prices for alcohol and tobacco showed the smallest increase (3.8%), according to the report.

Argentina is said to have one of the highest inflation rates in the world.

The Argentine Central Bank published an analysts' forecast saying that inflation in the country will surge past 100% in 2023. In 2022, consumer prices grew by 94.8%.