International Business

Argentine Inflation Jumps: The rate reached a 14-month high in July as higher hotel prices helped boost consumer prices 0.9%, the government said. The increase was more than double June’s and the highest since the 1.3% in May, 1993. Planning Secretary Juan Llach said 70% of last month’s increase was caused by increases in hotel costs and other prices charged tourists during the winter vacation period. The rate should fall in coming months, he said. Inflation in Argentina, which reached a world record of 5,000% in 1989, is now well below that of other Latin American countries.