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Argentina: devaluation of the peso causes prices to soar
In Argentina, the Christmas holidays look gloomy on the economic level, with the arrival of Javier Milei as president. Its drastic austerity reforms weigh on the daily lives of the most vulnerable. – (France 3)
In Argentina, the Christmas holidays look gloomy on the economic level, with the arrival of Javier Milei as president. Its drastic austerity reforms weigh on the daily lives of the most vulnerable.
In a hardware store in the center of Buenos Aires (Argentina), as everywhere in the country, the impact of the devaluation of peso by half was not long in coming. “Batteries, +25%, coatings, +119%, LED bulb, +82%”, lists Jonathan, the merchant. Every day the supplier sends new price lists with random increases. “We sell knowing that perhaps tomorrow, with the price at which we sold, we will not be able to replace the stock”he explains.
Fragile Argentinians hit hard
In fact, there is no longer a price. Some traders decide not to open, waiting for the situation to stabilize. With his minimum pension of 120 euros, Glenis is one of the fragile Argentines. By working undeclared as a beautician, she earns an additional 100 euros. Inflation is hitting it hard. Consumption has already fallen, as Javier Milei wanted: to cool the economy and bring down demand to create a drop in prices and in the best case, put an end to inflation, even if it means impoverishing Argentines and sacrificing the the most fragile of them.
