Argentina, which has fought inflation multiple times over the past several decades, is experiencing another bout of the devastating devaluation of their currency, the peso. With inflation at 103 percent and expected to reach 110 percent later this year, food and other goods cost more than twice as much today as they did a year ago. Shopper complain it is not unusual to see the price of food increase each time they go to the market.
The Argentine peso is currently worth less than half a U.S. penny.
Keep in mind, the same thing can happen here.
Published 4/14/2023. Read full article.