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Inflation Surge Challenges Argentina, Peru Amid Global Crisis

3/14/2026

Summary

Story summary

Argentina's February inflation rose to 2.9%, with annual inflation at 33.1% driven by utility-rate hikes and food prices, challenging President Javier Milei (Argentina)'s 2026 target.
The Iran conflict pushed fuel prices up 6% in March, and Citigroup and Barclays estimate this adds 0.8–0.9 percentage points to annual inflation.
Peru's central bank kept the benchmark rate at 4.25% as inflation reached 2.21%, due to a gas-supply crisis and higher global oil prices.

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Story summary

Argentina's February inflation rose to 2.9%, with annual inflation at 33.1% driven by utility-rate hikes and food prices, challenging President Javier Milei (Argentina)'s 2026 target.
The Iran conflict pushed fuel prices up 6% in March, and Citigroup and Barclays estimate this adds 0.8–0.9 percentage points to annual inflation.
Peru's central bank kept the benchmark rate at 4.25% as inflation reached 2.21%, due to a gas-supply crisis and higher global oil prices.