Argentina: Inflation jumps to record 92.4% in November
Consumer inflation registers slowest monthly rise since February with 4.9%
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Annual consumer inflation in Argentina jumped to a record 92.4% in November, according to data released by the national statistics agency.
The annual gain was an uptick from October's 88% increase, according to the figures released by INDEC late on Thursday, while consumer prices in September had risen 61.8% year-on-year.
The figure was lower than the market estimate for a gain of 94.2%.
On a monthly basis, however, consumer inflation rose 4.9% in November, marking its slowest monthly increase in nine months.
While the monthly figure also came lower than the market expectation of 5.9%, it rose 6.3% in October.
Argentina's Central Bank increased its benchmark interest rate on Sept. 15 by a whopping 550 basis points to 75% to fight the climbing inflation.
The South American economy expanded 1.7% in the third quarter of the year from the previous quarter, while it grew 5.9% from the same period of last year, according to INDEC.
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