Argentina inflation shoots past 100% for first time since 1991

Argentina's annual inflation rate shot past 100% in February, the country's statistics agency said on Tuesday, the first time it has reached triple digits since 1991 when the country was coming out of hyperinflation.

The monthly rise on the Consumer Price Index (CPI) clocked in at 6.6% in the second month of the year, above analyst forecasts ahead of the release. Annual inflation registered at 102.5%, with year-to-date inflation at 13.1%.