"Argentina's Inflation Soars Ahead of Crucial Presidential Election"

Inflation in Argentina reached its highest rate since 1991, with consumer prices soaring 12.4% in August and an annual inflation rate of 124.4%, putting the ruling coalition on the defensive ahead of the upcoming presidential election. The devaluation of the local currency, the peso, by nearly 20% following the August primaries contributed to the high inflation rate. Right-wing populist Javier Milei is currently leading in the polls, while Economy Minister Sergio Massa is trying to convince voters to elect him as president. The sharp rise in prices, particularly for food items, has caused discontent among the population.