Soaring Inflation Causes Havoc in Argentina!
Argentina’s inflation rate has soared past 100% for the first time since the hyperinflation of the 1990s. This means that costs of some consumer products have doubled over the last year.
According to Argentina’s media, recent inflation increases have been caused by increases in the price of meat. Adverse weather conditions have effected crops and livestock.
While Argentina’s government has tried to stop price increase, political divisions have marred responses.
Here is some useful vocabulary to help you understand Argentina’s record breaking inflation rate!
Vocabulary From The News!
To soar /sɔːr/ – to rise very quickly to a high level
Argentina’s inflation rate has soared past 100%
Hyperinflation /ˌhaɪ.pə.rɪnˈfleɪʃ.ən/ – the price of everything in a national economy goes out of control and increases very quickly
It is the first time since the end of hyperinflation in the early 90s
Consumer /kənˈsjuːmər/ – a person who buys goods or services for their own use
The price of many consumer goods has more than doubled since 2022
To stem /stem/ – to stop something unwanted from spreading or increasing
Argentina’s government has been trying to stem price rises by capping the prices of food and other products
Hike /haɪk/ – an increase in the cost of something, especially a large or unwanted increase
Argentinian media said that this latest increase in inflation could partly be due to a sharp hike in the price of meat
Adverse /ˈæd.vɜːs/ – having a negative or harmful effect on something
Adverse weather conditions have seriously impacted livestock and crops
To Mar – to spoil something, making it less good or less enjoyable
Divisions in Argentina’s government have marred the country’s economic policy
At odds – in disagreement
President Alberto Fernández is said to be at odds with his deputy Cristina Fernández de Kirchner over how to solve Argentina’s problems
How is inflation in your country right now?
Try using this vocabulary to make some sentences in the comments!