Ann: Temporary Argentina tax changes, page-69

I've just had another look at the chart in the recent presentation, but what we have to realise is that administrations in Argentina are heavily incentivised to under-report the real level of inflation. For the locals to keep their heads above water, it makes sense that inflation will closely correlate to the level of devaluation. The US dollar is a proxy currency there so as its value in pesos goes up, prices in pesos will also go up to match. Looks like interest rates are currently 60% in Argentina, so the level of inflation must be somewhere near that.

https://www.ft.com/content/2bad9bbc-aca6-11e8-94bd-cba20d67390c