Inflation in Argentina hits 100%

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Inflation in Argentina topped 100% for the first time since 1991.

Prices last month were 102.5% higher than last February, more than doubling.

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“There is nothing left, there is no money, people have nothing, so how do they buy?” said Irene Devita, 74, from Buenos Aires.

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Inflation skyrockets as a woman walks past a grocery store in the Argentine capital Buenos Aires. Prices in Argentina last month were 102.5% higher than in February last year.

“The other day I came and asked for fruit and a pound of tomatoes. When he told me that it cost 650 pesos (£2.66), I told him to remove everything and leave only the tomatoes, because I don’t have enough money,” Devita added.

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The government has tried in vain to tame prices that have undermined people’s ability to earn money, savings, economic growth and the ruling party’s chances of holding on to power in elections later this year.

Inflation breeds frustration and anger as wages often lag the value of goods despite government schemes to cap prices and export grains.

Buyer Patricia Quiroga, 50, said inflation was unbearable. “I’m just tired of all this, of politicians fighting while people are starving,” she said.

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