Argentine inflation numbers were revealed last week, with the interannual Consumer Price Index (CPI) registering record levels reaching 78.5%. This puts the country second only to Venezuela in Latam in terms of high inflation, with prices rising almost 8% during August, hitting the pockets of Argentines. According to a survey by Bitso, this has caused Argentines to explore cryptocurrencies as a way of keeping their purchasing power via stablecoins.
Argentine Inflation Keeps Growing, Expected to Reach 100% This Year
Inflation is becoming a big problem for some countries in Latam whose economies have been hit by the current economic downturn. Argentina, one of the biggest economies in the area, is now facing raging levels of inflation that are affecting the pockets of citizens. The most recent CPI report revealed that prices rose by 7% MoM (month-over-month), with these numbers being second only to Venezuela’s inflation, which has reached well over 100% YoY (year-over-year).
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