According to new data released Friday by the Argentinian National Institute for statistics and Census (INDEO), Inflation in Argentina surged to a rate of 104.3% in March, the highest annual rate seen since 1991.

Monthly, the inflation reading came in at 7.7%, which beat the median 7% forecast produced by analysts polled by Bloomberg, as well as the 7.1% prediction produced by economists polled by Reuters.

For the first three months of the year, total inflation came in at 21.7%. By February, the rate of inflation reached 102.5%, which means from a practical perspective, the price of consumer goods, has, overall, more than doubled from the exact same period one year prior.

The largest increase in prices, which had the greatest effect on the index was the costs associated with education. Month over month, education costs surged 29.1%. Experts attributed the increase to the start of the school year.

Clothing increased by 9.4% month over month. Food and non-alcoholic beverages increased 9.3%, a rise attributed primarily to the rise in cost of meat, dairy products, and eggs. Following an outbreak of the avian flu in Argentina, the cost for chicken and eggs rose over 25%.

For years, Argentina has suffered from among the highest inflation rates. Buenos Aires has tried to contain inflation for years, however internal political divisions have impeded the nation’s ability to implement a coherent economic policy. Last summer as the present economic crisis continued to deepen, the nation saw three different economy ministers succeed each other in the space of just four weeks.

The International Monetary Fund (IMF)  approved an additional $6 billion bailout for the nation in December. It was the latest disbursement from a 30 month program which economists expect will ultimately release $44 billion to the economically beleaguered nation.