Argentina's inflation rate hits 95%, highest since 1991

The monthly inflation rate in Argentina was at 5.1% in December, lower than market expectations of 5.2% and accelerating from 4.9% in November.

Consumer prices rose at a faster pace for food and non-alcoholic beverages (4.7% vs 3.5% in November) and restaurants and hotels (7.2% vs 5.5%).

Meanwhile, the inflation eased for housing and utilities (4.2% vs 8.7%) and transportation (5.8% vs 6.1%).

Since the late 2010s, prolonged inflation remained a constant problem of the ailing economy of Argentina. (ILKHA)