Surging inflation in Argentina has cast further doubt on the performance of South America's second-largest economy. For President Mauricio Macri, continued signs of economic weakness could spell trouble at the ballot box. On March 14, the country's National Institute of Statistics and Censuses reported that in February, inflation had increased by 3.8 percent, as measured month-on-month, the second straight month that prices had increased.
The news did not sit well with the Central Bank of Argentina, which quickly announced it would take action to curb the trend. Its rapid response was designed to reassure investors that the bank would continue to battle inflation, even as the country enters a campaign cycle for local and national elections, culminating in the presidential contest in October....
