BUENOS AIRES — Argentines facing an inflation rate set to top 100% this year are grappling to survive, turning to recycling from garbage dumps or lining up to…
The South American country is set to post its sharpest rise in prices this year since a period of hyperinflation around 1990, an extreme case even in a world widely battling to tame inflation pushed up by Russia’s invasion of Ukraine.Sign up to receive daily headline news from Ottawa Citizen, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
At the dump, Reuters saw men and women searching for usable clothing and even food, wading through piles of rubbish where gas given off by the decomposing waste created sudden fires. There were many rats, wild dogs and scavenger birds. Inflation likely rose 6.7% in September alone, analysts polled by Reuters said, ahead of official data expected to be released on Friday. That has led the central bank to hike the interest rate to 75%, with the possibility of more rises.
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