Consumer prices in Argentina rose by 211 percent in December compared to the same month last year. This is the highest value since the early 1990s, with prices rising by more than 25 percent from November to December alone. Argentina’s central bank is responding to escalating inflation by issuing new banknotes. 10,000 and 20,000 peso notes (11 and 22 euros respectively) will be put into circulation, as the monetary authorities announced. The largest banknote so far is the 2,000 peso note, which was introduced just last year.

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