Argentina’s top inflation-fighting official resigns over soaring prices

FILE PHOTO – A woman shops at a supermarket, in Buenos Aires, Argentina, May 4, 2022. Picture taken May 4, 2022. REUTERS/Agustin Marcarian

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BUENOS AIRES, May 23 (Reuters) – A senior Argentine official tasked with leading the government’s efforts to rein in runaway inflation resigned on Monday over differences over how to contain the steady rise in prices, which have plagued the economy from the country.

Annual inflation in the South American nation hit 58% in April as many food and energy prices jumped following the Russian invasion of Ukraine, with some analysts predicting that consumer prices will rise by 70% later this year.

Internal Trade Minister Roberto Feletti announced his decision in a Twitter post along with his letter of resignation after serving just over seven months in the post and citing policy “deviations”, but without going into details.

Last week, the Feletti-led ministry was merged into the Economy Ministry, as internal tensions within President Alberto Fernandez’s center-left ruling Peronists spilled over into the public eye.

In a statement released later on Monday, Guillermo Hang, a central bank official, was named the new domestic trade minister.

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Reporting by Walter Bianchi and Eliana Raszewski; Written by Carolina Pulice; Editing by David Alire Garcia and David Gregorio

Our standards: The Thomson Reuters Trust Principles.

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