before a inflation that this year could exceed 140%, the Argentines they look for the best price when buying essential goods to protect their income and make ends meet.
“I feel that there is no control, that no one controls the prices and that everyone puts the price they want and perhaps managing the same quality”said Annabella Páez, 31, while shopping at a market in the city of Buenos Aires.
The National Institute of Statistics and Censuses (INDEC) will announce on Thursday afternoon the official inflation data for June, which analysts estimate at a 7% monthly, below 7.8% registered in May, according to the median of a Reuters poll.
Inflation could close the year in 142.4%according to analysts consulted by the central bank, compared to the 94.8% of 2022, and causes the income of Argentines to constantly lose purchasing power, leading them to choose the products they consume with greater care.
“Customers are taking a little more care in what they spend and are generally taking the cheapest cuts, which is ground meat or cuts to make steaks or meat for stews,” explained Gabriel Segovia, a 51-year-old butcher.
The rate of inflation and an economic crisis that plunged into poverty the 40% of the population are central issues in the campaign for the primary elections in August, where the Minister of Economy, Sergio Massa, wants to be confirmed as the presidential candidate for the ruling party for the October elections.
Source: Reuters
Source: Gestion
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