Argentine inflation keeps soaring, putting the government on the defensive as elections near

BUENOS AIRES, Argentina (AP) — Consumer prices in Argentina have soared 12.4% in August, compared to the previous month, a number that puts the government on the defensive a little more than a month before presidential elections in which a right-wing populist who admires Donald Trump appears the favorite to win. Argentina’s annual inflation rate rose to 124.4%, according to figures released by the government’s INDEC statistics agency Wednesday. Argentina has been suffering from galloping inflation for years, but August marked the first time in more than two decades that the monthly rate reached double digits, a phenomenon that is likely to be repeated in September, according to economists.