Inflation rates in Argentina
The inflation rate for consumer prices in Argentina moved over the past 42 years between -1.2% and 3,079.8%. For 2022, an inflation rate of 94.8% was calculated.During the observation period from 1980 to 2022, the average inflation rate was 206.2% per year. Overall, the price increase was 902.38 billion percent. An item that cost 100 pesos in 1980 costs 902.38 billion pesos at the beginning of 2023.
For August 2024, the year-over-year inflation rate was 236.72%.
This includes energy (+236.7%) and food (+236.9%).
› Inflation rates in global comparison
Performance over the last 42 years compared with the USA
Argentina's inflation has been extremely high and volatile in recent decades, which has also been reflected in several nationwide crises. The hyperinflation of the 1980s peaked in 1989 with an inflation rate of over 3,000 percent. In the years that followed, the rate fell relatively quickly back to almost normal levels of less than 5% per year. There was even slight deflation in 1999 and 2001. However, political and economic turbulence began again in the new millennium. Price increases of often over 10% were not uncommon until 2013. In recent years, rates have risen dramatically again. Consumer prices are even expected to rise by over 200% again in 2024. This means that Argentina once again has one of the highest inflation rates in the world.Inadequate economic and monetary policy are the main reasons for the decades of ups and downs. Political instability as well as changes of power and corruption in government are often cited as causes. An expansive monetary policy to finance budget deficits and uncoordinated economic planning contributed significantly to inflation. The high level of political uncertainty also prevented long-term and strategic planning. Control of public spending and the implementation of a consistent fiscal policy largely failed to materialize. Currency fluctuations and debt crises further exacerbated the effects of inflation. Despite short-term measures such as price and currency controls, combating inflation in the long term is a major challenge for Argentina.
The consequences for Argentina's economy are primarily structural problems such as inefficient production capacities due to a lack of planning certainty and, as a result, an overall lack of competitiveness. The country is also highly dependent on commodity exports. However, there is also a large shadow market in the country's free economy, which deprives the state of urgently needed tax revenue.
The current government under Javier Milei has also announced a radical restructuring of the state budget with tough austerity measures. Around 40% of the population now lives in poverty and the government currently sees no possibility of a rapid improvement.
Performance based on 100% in 1979:
Inflation calculator for Argentina
Enter any amount, a start year and an end year here. You will then be shown the amount that resulted from the original amount after inflation.100 pesos in 1980 will still be 100 pesos in 2023. The nominal value does not change. What does change, is the purchasing power. In other words, the amount of goods that can be bought with this money. As inflation increases, this amount decreases.
Example: The purchasing power of 100 pesos in 1980 corresponds to that of 902,382,027,878.16 pesos at the beginning of 2023. Conversely, in 1980 you could buy as much with -0.18 pesos as you can today with 1000 pesos.
Inflation rates for consumer goods in Argentina
Energy and food
Historical inflation rates in comparison
| Year | Argentina | Ø EU | Ø USA | Ø World |
|---|---|---|---|---|
| 2022 | 94.80 % | 8.83 % | 8.00 % | 7.99 % |
| 2021 | 48.41 % | 2.55 % | 4.70 % | 3.45 % |
| 2020 | 42.02 % | 0.48 % | 1.23 % | 1.92 % |
| 2019 | 53.55 % | 1.63 % | 1.81 % | 2.21 % |
| 2018 | 34.28 % | 1.74 % | 2.44 % | 2.45 % |
| 2017 | 25.68 % | 1.43 % | 2.13 % | 2.25 % |
| 2016 | 26.50 % | 0.18 % | 1.26 % | 1.61 % |
| 2014 | 23.90 % | 0.20 % | 1.62 % | 2.35 % |
| 2013 | 10.62 % | 1.22 % | 1.46 % | 2.62 % |
| 2012 | 10.03 % | 2.66 % | 2.07 % | 3.73 % |
| 2011 | 9.47 % | 3.29 % | 3.16 % | 4.82 % |
| 2010 | 10.78 % | 1.53 % | 1.64 % | 3.35 % |
| 2009 | 6.28 % | 0.84 % | -0.36 % | 2.94 % |
| 2008 | 8.58 % | 4.16 % | 3.84 % | 8.95 % |
| 2007 | 8.83 % | 2.51 % | 2.85 % | 4.82 % |
| 2006 | 10.90 % | 2.67 % | 3.23 % | 4.28 % |
| 2005 | 9.64 % | 2.49 % | 3.39 % | 4.11 % |
| 2004 | 4.42 % | 2.29 % | 2.68 % | 3.38 % |
| 2003 | 13.44 % | 2.09 % | 2.27 % | 3.03 % |
| 2002 | 25.87 % | 2.42 % | 1.59 % | 2.83 % |
| 2001 | -1.07 % | 3.37 % | 2.83 % | 3.84 % |
| 2000 | -0.94 % | 3.15 % | 3.38 % | 3.49 % |
| 1999 | -1.17 % | 2.16 % | 2.19 % | 3.08 % |
| 1998 | 0.92 % | 2.42 % | 1.55 % | 5.11 % |
| 1997 | 0.53 % | 3.11 % | 2.34 % | 5.57 % |
| 1996 | 0.16 % | 3.56 % | 2.93 % | 6.55 % |
| 1995 | 3.38 % | 4.43 % | 2.81 % | 9.15 % |
| 1994 | 4.18 % | 4.72 % | 2.61 % | 10.32 % |
| 1993 | 10.61 % | 4.85 % | 2.95 % | 7.51 % |
| 1992 | 24.90 % | 6.22 % | 3.03 % | 7.71 % |
| 1991 | 171.67 % | 5.48 % | 4.23 % | 9.00 % |
| 1990 | 2,313.96 % | 6.15 % | 5.40 % | 8.13 % |
| 1989 | 3,079.81 % | 6.26 % | 4.83 % | 7.00 % |
| 1988 | 342.96 % | 4.54 % | 4.08 % | 7.15 % |
| 1987 | 131.33 % | 4.02 % | 3.66 % | 5.76 % |
| 1986 | 90.10 % | 3.68 % | 1.90 % | 5.82 % |
| 1985 | 672.18 % | 5.40 % | 3.55 % | 6.86 % |
| 1984 | 626.72 % | 7.67 % | 4.30 % | 8.12 % |
| 1983 | 343.81 % | 8.67 % | 3.21 % | 8.77 % |
| 1982 | 164.78 % | 9.58 % | 6.13 % | 10.24 % |
| 1981 | 104.48 % | 11.77 % | 10.33 % | 12.47 % |
| 1980 | 100.76 % | 12.91 % | 13.55 % | 13.98 % |
Data basis: International Monetary Fund, World Bank and OECD Inflation CPI indicator (doi:10.1787/eee82e6e-en)
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