In May, Argentina experienced a significant rise in prices, with a growth rate of 7.8%. Since the start of the year, this indicator has surged by 42.2%.
Comparing it to May 2022, inflation has soared by a staggering 114.2%, as reported by the Institute of Statistics and Population Census of Argentina, cited by "TASS".
Analyzing the specific sectors, housing, fuel, and utilities witnessed the highest price increases, reaching 11.9% in May. Following closely behind, prices in hotels and restaurants rose by 9.3%. On the other hand, the education sector saw the least growth in prices, with a modest increase of 4.9%.
Argentina has been grappling with high inflation rates for several years, consistently ranking among the highest in the world. In February, inflation reached a peak of 102.5%, marking the highest level since 1991.
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