Inflation rate in Argentina 2024*

Inflation in Argentina was 34 percent in 2018, expected to rise to nearly 44 percent the following year before declining to 6 percent by 2024. A major factor in this is the legacy of poor fiscal discipline left by the economic depression from 1998 to 2002.

What causes inflation?

Inflation is a rise in price levels for all goods. Major causes of inflation include an increase in money supply, low central bank interest rates, and expectation of inflation. In a country such as Argentina, the expectation can be one of the biggest obstacles. People expect inflation to be high and demand increasing wages, and firms continue raising prices because they expect the costs of inputs to increase. Banks follow suit, charging high interest rates on fixed deposits.

Effects of inflation

Inflation negatively affects savers. 100 Argentinian pesos in 2018 will be worth just under 75 pesos in 2019, after adjusting for the 34 percent inflation rate. Similarly, frequently changing prices has its own inherent cost, called “menu cost” after the price of printing new menus. Inflation will also have a positive effect on national debt when that debt is denominated in Argentinian pesos, because the pesos will be cheaper when the loan matures. However, the majority of Argentina’s debts are in foreign currency, which means that inflation will make these debts larger in peso terms.

Argentina: Inflation rate from 2004 to 2024*

Inflation rate compared to previous year
2024*16.98%
2023*22.21%
2022*26.87%
2021*32.26%
2020*51%
2019*54.44%
201834.28%
201725.68%
201310.62%
2012 10.04%
2011 9.78%
2010 10.46%
2009 6.27%
2008 8.59%
2007 8.83%
2006 10.9%
2005 9.64%
2004 4.42%
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Source

Release date

October 2019

Region

Argentina

Survey time period

2004 to 2018

Supplementary notes

* Estimate.

Figures have been rounded. The source did not provide data for 2014 through 2016.

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Statistics on "Argentina"

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