BUENOS AIRES (Reuters) – Argentina’s monthly inflation rate stood at 4.2% in August, official data published on Wednesday showed, as prices came in above a Reuters forecast of 3.9% and up slightly from 4.0% in July.
Inflation in the 12 months through August reached 236.7%, still the highest level recorded in the world, and also above the poll forecast of 235.8%.
Analysts had hoped for a slowdown that would signal progress for the government of libertarian President Javier Milei, which has been focused on taming runaway prices.
Statistics agency INDEC said the monthly price rises were driven by living costs and utilities, education and transport. The country’s monthly inflation rate has hovered around the 4% mark since May.
With costs soaring, poverty rates this year hit their highest level in at least 20 years, according to a recent study.
“I swear I don’t know how to make ends meet,” said 63-year-old Liliana Martins, lamenting that even as she tries to save it is never enough.
(Reporting by Hernan Nessi and Sarah Morland; Editing by David Alire Garcia)
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