Argentina's inflation deals blow to new leader
Argentina's record inflation rate rose for the third successive month to reach 20.3 percent in March, the Economy Ministry announced Friday. The jump brings inflation to 479.2 percent in the 12 months through March and represents a severe blow to the anti-inflation policies of the new elected government. Inflation was 17 percent in February.
Since coming to power in December President Raul Alfonsin has struggled to reduce inflation by imposing wide-ranging price controls and fixing interest rates and lending limits in the banking system.