March 14, 2019 / 7:12 PM / 6 months ago

Argentina inflation rises 3.8 percent in February

BUENOS AIRES, March 14 (Reuters) - Argentina consumer prices rose 3.8 percent in February, the National Institute of Statistics and Censuses (INDEC) said on Thursday, as the country grapples to bring down inflation.

The rise marked the second consecutive month where inflation has accelerated versus the previous month and took year-to-date inflation to 6.8 percent. Rolling 12-month inflation is now running at 51.3 percent, INDEC said.

Fueled by a weak peso currency, consumer prices in Argentina rose 47.6 percent in 2018, which analysts said was the highest annual rate in nearly three decades, hitting the country’s spenders as wage growth failed to keep apace.

Earlier this month economists raised their forecast for 2019 inflation to 31.9 percent from a previous estimate of 29.0 percent.

Reporting by Jorge Iorio and Jorge Otaola; Writing by Adam Jourdan; editing by Diane Craft

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