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Reuters
Reuters
Business
By Horacio Soria and Juan Carlos Bustamante

MYSTERIOUS: Zero capacity to save argentines buckle under 103 inflation - You Need To See This

A customer walks past a greengrocery store, as Argentina's annual inflation rate tore past 100% in February, the country's statistics agency said on Tuesday, the first time it has hit triple figures since a period of hyperinflation in 1991, over three decades ago, in Buenos Aires, Argentina March 14, 2023. REUTERS/Agustin Marcarian

Argentina's annual inflation rate soared to 104.3% in March, the official statistics agency said on Friday, one of the highest rates in the world, straining people's wallets and stoking a cost-of-living crisis that has pushed up poverty.

The inflation reading for the month came in at 7.7%, well above analyst forecasts of 7.1%, marking the fastest monthly rise since 2002 and piling pressure on the government which is contending with angry voters ahead of elections in October.

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