Monthly inflation hit 12.4% following a post-primaries devaluation

Analysts say the the devaluation of the Peso after the primaries is primarily responsible for the increase in prices

In a press statement, Chair Kristalina Georgieva said Argentina’s economic situation has become ‘increasingly challenging’

The drought is also expected to continue affecting the economy in the upcoming months

Consultants agree that more is needed to curb inflation amid political uncertainty and low international reserves

After this week’s 12.5% jump, the accumulated rise for fuel in August is 17.5%

The Economy Ministry’s new ‘price renegotiation unit’ will implement price increase caps and tax exemptions for companies

Eight different consulting firms are placing this month’s inflation rate between 10% and 15%

Prices are expected to soar following the 22% depreciation of the peso