January 17, 2019 / 10:00 PM / 3 months ago

Argentina's 2018 wholesale inflation 73.5 pct, highest since 2002

BUENOS AIRES, Jan 17 (Reuters) - Wholesale prices in Argentina shot 73.5 percent higher in 2018, government data showed on Thursday, the fastest rate since 2002 when they climbed 118 percent during an economic crisis that tossed millions of middle-class Argentines into poverty.

Retail prices in the South American country climbed 47.6 percent in 2018, the official INDEC statistics agency reported earlier this week, their biggest advance since 1991 when consumer price inflation was around 84 percent.

Argentina is in a recession that the government and International Monetary Fund expect to end toward the middle of 2019, while inflationary pressures are expected to ease. The country has a $56 billion financing deal with the Fund. (Reporting by Walter Bianchi, Hugh Bronstein; editing by Grant McCool)

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