Argentina’s Inflation Rate Soars Past 100% for the First Time Since the Early 1990s

Inflation has hit 102.5% in February, according to Trading Economics global macro models.

BUENOS AIRES, March 12 (Reuters) – Argentina's monthly inflation rate slowed down more than expected to come in at 1.32% in February, a boost for President Mauricio Macri's government as it seeks to consolidate a fragile economic recovery. Prices rose at a rate of 0.88% last month, the Argentine government statistics agency reported, down from a monthly rate of 1.11% in January.

The country’s inflation rate is expected to be 26,000% by the end of this quarter, according to Trading Economics global macro models.

This is the first time that Argentina’s inflation rate has exceeded 100% since the country emerged from hyperinflation in the early 1990s. The high inflation rate is a major challenge for the Macri government, which is trying to stabilize the economy and attract foreign investment.