"Argentina's Economy Reels as Inflation Skyrockets Past 200%"

Argentina's annual inflation rate surged past 211% in December, hitting the highest level since the early 1990s, as new President Javier Milei aims to tackle hyperinflation with tough austerity measures. The monthly inflation rate reached 25.5%, slightly below forecasts, following a sharp devaluation of the peso. Many Argentines are feeling the impact, with retirees and citizens struggling to afford basic necessities as prices soar, leading to increased poverty levels. Milei has warned that the situation may worsen before it improves, as the country grapples with a deep fiscal deficit and strives to rebuild government finances.