BUENOS AIRES, Oct 12 Reuters Argentina39;s central bank raised the country39;s benchmark interest rate to 133 from 118 on Thursday as inflation data came in worse than forecast, 10 days before voters go to the polls to choose a new president amid a deepening economic crisis.

The hike came shortly after September inflation figures were released, landing above expectations at 12.7 monthly and 138 annually, worsening surging prices that have sapped wages and savings and pushed two out of every five people in Argentina below the poverty line.

Argentina39;s central bank is struggling to keep the benchmark interest rate in line with inflation expectations, with a central bank poll of analysts later in the day forecasting inflation to end the year at more than 180.

Some commentators questioned whether the latest hike was too late amid a worsening economic scenario.

It is no longer useful to raise the rate, expectations have gone away and raising it at this time is not going to contain the flight from pesos to dollars, a national private banking manager said on condition of anonymity.

The impacts of inflation has been worsened by the government39;s near18 devaluation of the peso in midAugust, which coincided with the prior central bank hike, where it increased the interest rate from 97 to 118.

A rapid freefall of Argentina39;s peso has since followed, with the currency surpassing the psychological barrier of 1,000 pesos per U.S. dollar earlier this week as the country…