International Business

Argentine Inflation Plummets to 1.6% in ‘95: The Latin American county’s inflation rate, which six years ago was the highest in the world, fell to a 51-year low last year, the government said. The increase in consumer prices was the smallest since 1944, when prices declined by 0.3%. In 1994, consumer prices rose by 3.9%, and in 1989, the year President Carlos Menem took office, consumer prices rose by 5,000%. Prices rose by 0.1% in December, compared with a decline of 0.2% in November and an increase of 0.2% in December 1994, the government’s statistics department said.