Argentina Fails to Tame Stubborn Inflation

After 2017 rate clocks in at almost 25%, government raises its inflation targets for this year and next

BUENOS AIRES—Argentina significantly overshot its inflation target in 2017 as prices rose almost 25% from the previous year, raising questions about the country’s ability to tame a problem that has plagued it off and on for decades.

Consumer prices surged 3.1% in December from the previous month, pushing the annual inflation rate to 24.8%, far beyond the central bank’s target of 17%.

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