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Argentina’s July inflation reaches 7.4%, government raises interest rate

Argentine inflation rose 7.4% in July. This is according to data released Thursday (11) by the Argentine Institute of Statistics and Census (Indec). This was the highest increase in 20 years.

As a result, Argentina's central bank raised the country's interest rate by 9.5 percentage points, from 60% to 69.50% per year. Read the central bank's statement (102 KB).

The measure attempts to control inflation and stabilize the foreign exchange market. This is the 8th readjustment this year.

(Protests in Buenos Aires today)

Food prices increased by about 6% this month. Other . . .

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