Inflation, consumer prices (annual %) - Argentina from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Bloomberg notes: Argentina’s central bank already tightened monetary policy three times in the last month, and inflation is still accelerating at a rate of nearly 55 percent. Rising food and apparel prices and regular annual tuition adjustments pushed inflation higher in this period. Inflation rate of Argentina increased from 25.9 % in 2002 to 53.5 % in 2019 growing at an average annual rate of 19.12%. International Monetary Fund and United Nations provide graphs that are slightly different about consumer prices inflation in Argentina: IMF presents higher inflation rate and indicates the rise since 2017 while UN shows the decline of the inflation rate since 2016. Find Out Argentina is an affluent country, but it also has high levels of poverty. Inflation in 2018 came in at 48 percent. In 2019, inflation rate for Argentina was 53.5 %. Among the most notorious vulnerabilities of the current administration is an extremely high inflation rate, which, in the middle of the current economic crisis is still strangling the urban and rural, less-privileged population: although it was seen as coming down from the astounding 40% of 2016, it was expected to be of only 17% in 2018, from 27% in 2017 (while the government and the Central Bank said it was expecting a 17% inflation rate … From 2004 to 2008, Argentina reduced poverty levels by promoting economic growth. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Inflation in Argentina Surpasses 54 Percent. Argentina. Exchange Rate Policy. Find Out, Online tool for visualization and analysis. As the fortunes go, few countries have experienced swings as extreme as Argentina’s. I calculate the “golden growth” rate for the past decade. Fueled by a weak peso, consumer prices in Argentina rose 47.6% in 2018, which analysts said was the highest annual rate in nearly three decades, hitting the country’s spenders as wage growth failed to keep apace. inflationary pressure, it seems difficult to blame them for runaway inflation. The orthodox packages proved costly (table 3). Expectations are for exactly that: Argentina’s inflation rate was 36% in 2020, and Galicia predicts it will intensify to around 40% this year. Average income grew at a rate of 7.6%. This site uses cookies to optimize functionality and give you the best possible experience. History of inflation. Argentina's Central Bank increases its benchmark interest rate to 60 per cent — the world's highest — in an effort to halt a sharp slide in the value of the peso, which plunged to a record low. Exceptions arise where further refinements are made by World Bank staff. Inflation, consumer prices for Argentina Find Out, Online tool for visualization and analysis. Consumer prices jumped 4.80% over the previous month in March, following the 3.60% increase logged in February and marking the fastest increase in 18 months. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. This report provides a monthly analysis of the context of the Argentine financial system. To learn more about cookies, click here. Earlier this month economists raised their forecast for 2019 inflation to 31.9% from a previous estimate of 29.0%. 100 Argentinian pesos in 2018 will be worth just under 75 pesos in 2019, after adjusting for the 34 percent inflation rate. To learn more about cookies, click here. Access Argentina’s economy facts, statistics, project information, … The World Bank is an international financial organisation. Inflation Rate in Argentina averaged 193.60 percent from 1944 until 2021, reaching an all time high of 20262.80 percent in March of 1990 and a record low of -7 percent in February of 1954. As the graph below shows, over the past 57 years this indicator reached a maximum value of 3,046.09 in 1989 and a minimum value of -3.56 in 1993. From the end of World War II until the 1990s, Argentina vied with other South American countries and a few countries in otherparts of the world for the dubious honor of having the At end-September 2007, the inflation rate measured in terms of the Consumer Price Index (CPI) stood at 13.1 percent year-on-year (yoy), and 12.2 percent since the beginning of 2007—the highest September-level inflation rate one has observed in Mongolia since the beginning of this decade. Private Sector External Debt Report as of December 31, 2020 This is a quarterly report that analyzes the evolution of the private sector external debt based on the main debt instruments. Argentina - Inflation Inflation climbs further in March. (% GDP), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. According to OECD, Argentina inflation rate is fluctuating. Argentina has raised its interest rate to 60%, the world's highest, in a bid to prop up the country's floundering currency. Argentina inflation rate for was 0.00%, a 0% increase from . As a result, annual inflation accelerated to 42.6% in March, from 40.7% in February. The Laspeyres formula is generally used. The data for 2019 marks the 15th consecutive year of a double-digit inflation rate, and the 10th consecutive year with a rate … This framework is supplemented by a commitment not to allow short-term rates to fall below 60 percent until 12-month inflation expectations decisively fall for at least two consecutive months. The inflation rate for consumer prices in Argentina moved over the past 39 years between … The monthly inflation rate in Argentina jumped by 4.5 percent in March of 2021, the fastest pace since the end of 2019, following a 3.6 percent gain in February and well above analyst forecasts of 4.1%. In March, the sharpest increases in prices were recorded education, clothing and footwear and alcoholic beverages and tobacco. Unfortunately, as most stabilization efforts in Argentina, the Austral plan alec failed. Inflation negatively affects savers. World Bank. Inflation, GDP deflator (annual %) - Argentina from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Bank nonperforming loans to total gross loans (%), Account ownership at a financial institution or with a mobile-money-service provider, richest 60% (% of population ages 15+), Domestic credit provided by financial sector (% of GDP), Account ownership at a financial institution or with a mobile-money-service provider, poorest 40% (% of population ages 15+), Claims on central government, etc. Inflation is rising. Advertisement Inflation fell from 30 percent in June to 3.1 percent in August, when measured in terms of consumer prices, while the reductions were even more impressive in terms of wholesale prices (See table 1). Argentina - Inflation Inflation, GDP deflator (annual %) The value for Inflation, GDP deflator (annual %) in Argentina was 40.70 as of 2018. The Laspeyres formula is generally used. If you continue to navigate this website beyond this page, cookies will be placed on your browser. For lack of better policy instruments, over the i98os Argentina's Central Bank had been absorbing money by issuing its own interest-bearing debt. The South American nation's central bank said the rate … World Bank national accounts data, and OECD National Accounts data files. It presents the most current and accurate global development data available, and includes national, regional and global estimates. The Central Bank of Argentina (BCRA) has adopted a floating exchange rate regime without intervention. Inflation, consumer prices (annual %) Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. This site uses cookies to optimize functionality and give you the best possible experience. Argentina's inflation continued at more than 150 percent and Uruguay's at al- most 43 percent, despite significant fiscal adjustment. Argentina's statistics office’s national consumer price index increased 4.8% in March, up from 3.3% a year earlier. As a rule, it is the official exchange rate reported in the IMF's International Financial Statistics (line rf). The DEC alternative conversion factor is the underlying annual exchange rate used for the World Bank Atlas method. This article argues that the main 'engine' of the I989 hyperinflations was the Central Bank's own 'quasi-fiscal' deficit. Its primary purpose is to offer loans to countries for capital projects. Graph and download economic data for Inflation, consumer prices for Argentina (FPCPITOTLZGARG) from 2018 to 2019 about Argentina, consumer, CPI, inflation, price index, price, and indexes. Inflation, GDP deflator: linked series (annual %), GDP deflator (base year varies by country), GDP deflator: linked series (base year varies by country), Gross value added at basic prices (GVA) (current US$), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. International Monetary Fund, International Financial Statistics and data files. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). This is the rate of broad money growth that would allow the Central Bank of Argentina (BCRA) to hit its inflation target. Latest news and information from the World Bank and its development work in Argentina. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out https://www.worldbank.org/en/search?q=inflation+rate¤tTab=1. 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