You think U.S. inflation is bad?

Wait until you see Argentina's...

Photo: Unsplash

Hello Financial Healers,

The latest figures on U.S. inflation are making the rounds, and they’re not good. The Guardian reports, “U.S. inflation in August rose for the first time since June 2022, rising to 3.7% as a sharp increase in energy prices pushed prices up toward the end of the summer.” That’s better than where we were at, but it’s still not ideal.

Much of the blame is placed on rising fuel prices. (I guess inflation is not as transitory as some hoped).

What’s going on in Argentina?

According to The Manila Times, “Argentina recorded an inflation rate of 12.4% in August, the highest change in over three decades.” For comparison, U.S. inflation, at its recent highest, was 8%.

Most of us remember how painful that time was. Imagine how much suffering occurs at 12.4%.

Whose fault is it?

Some blame the IMF’s devaluing of the Argentine peso for this inflationary crisis. Others point to the country’s massive welfare state. Whatever the reason, we must pray for God to raise up righteous leaders. It’d be amazing to see Argentina do a turnaround.

God bless your Prosperous Soul,
Stephen K. De Silva

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About: Stephen K. De Silva is an author, speaker, and financial coach. From 1995 until 2017, he served as the CFO of Bethel Church, and a member of the senior leadership team. Stephen’s blend of experience, training, and gifting make him a pioneer in the subject of money. You can reach Stephen at hello@prosperousoul.com.