Argentina freezes prices to slow inflation

World Today

Argentine one hundred peso bills sit underneath United States one hundred dollar bill in this picture illustration taken September 3, 2019. REUTERS/Agustin Marcarian/Illustration/File Photo

 

While U.S. consumers are facing inflation of more than 5 percent, the highest in 13 years – the situation facing citizens in Argentina is worse.

The country’s annual inflation rate is running at over 50 percent leading the government to freeze prices of many goods for 90 days in a bid to slow rising prices.