“A country of beggars”: wayward inflation pushes Argentines into poverty

In the midst of a severe economic crisis, the argentine government The inflation index for April will be released on Friday, which, by remaining at one of the highest levels in the world -as expected- has pushed more and more Argentines to desperate consumption strategies to evade growing poverty.

He price rise would be 7.5% in April, according to a Reuters poll, after the 7.7% that in March put the center-left management in check, which aspires to be re-elected next October. Analysts consulted by the central bank estimated last week that the inflation by 2023 it would reach 126.4% per year.

“They made us a country of beggarshe told Reuters. Carlos Andradaa 60-year-old self-employed person who was looking for cheap food in the Central Market of Buenos Aires, in the suburbs of the Argentine capital, where merchants and individuals go in search of low prices.

“One despairs because after having worked all my life and for as long as I can remember, having to fight for a tomato or a bell pepper”, added Andrada while analyzing the values ​​of vegetables in a stall.

The delicate financial situation of the country was aggravated by an intense drought last year, which hit exports of soybeans, corn and wheat, which led to a shortage of foreign currency and the consequent difficulties in containing the value of the local currency and general prices.

“When I came last time (to the market), I paid 300 pesos a kilo for the bell pepper, it’s 300 pesos a half kilo. I paid 600 pesos for the 2 kilos apples, now 600 pesos per kilo”, assured Olivia Maria Belbrunoa 70-year-old retiree shopping at the market.

The Peronist government intended to gradually reduce inflation during 2023 to reach the August primaries and the October presidential elections with a chance of maintaining power, but so far it has failed.

“The Government is working on all the different variables both to lower and lower inflation in some way and to sustain wages”, said this week at a press conference the presidential spokeswoman, Gabriela Cerrutti.

With poverty that could exceed 40% this year, many Argentines develop strategies that allow them to make ends meet with income that evaporates in their hands.

“I deprive myself of going out to eat once a month, on vacation we haven’t been going anywhere for four years, we had to sell a car because we couldn’t pay for insurance, license plate, garage. Air conditioning, little; heating, little; You regulate all those habits to be able to make ends meet, if you do”, recounted the graphic worker Salvador Paterno, 64 years old.

Source: Reuters