Argentina's Inflation Soars Above 100% Once Again

Argentina's annual inflation rate has reached 104.3%, one of the highest rates in the world, putting pressure on the government ahead of the October elections. The soaring prices have pushed up poverty to nearly 40%, hammered salaries and spending power, and dented the popularity of the governing Peronist coalition. The country is also grappling with one of its worst droughts in history, which has devastated crops, knocking billions off the economy from lost exports and fanning domestic prices.