Inflation in Argentina reached 83 percent in September year-on-year, the highest in 30 years, said the National Statistics and Census Institute (INDEC) on Friday.
The South American country saw a 6.2 percent rise in prices in September compared to August and a 66.1 percent jump in prices in the first nine months.
The country’s year-on-year price increase is the highest recorded since December 1991.
The sectors with the most significant year-on-year variation in prices were clothing (118 percent), restaurants and hotels (99 percent), food and non-alcoholic beverages (86.6 percent), and miscellaneous goods and services (81.2 percent), INDEC reported.
In general, prices of goods increased 87.6 percent year-on-year, while services rose 71.5 percent.
The government has said combating inflation is one of its top priorities.
According to the latest survey by the Central Bank of Argentina, inflation in the South American country could reach triple digits by the end of the year, climbing to 100.3 percent.
Inflation in the 12 months through September hit 83%, as President Alberto Fernandez’s government fights to rein in surging prices that are sapping people’s wages and savings. Prices were up 66.1% in the first nine months of the year.
Aldo Abram, executive director at consultancy Libertad y Progreso, said inflation would remain high into next year, before easing back ahead of presidential elections.
“It is likely that it will go down a bit, after rising even to 110% or more in the first half of the year,” he said.
