Inflation in Argentina hits 100% for the first time since 1991 and prices have more than doubled since February last year
Inflation in Argentina has exceeded 100% for the first time since 1991.
Last month’s prices were 102.5% higher than February last year, meaning they more than doubled.
“There is nothing left, there is no money, people have nothing, so how do they buy?” said Irene Devita, 74, in Buenos Aires.
Rampant inflation: A woman walks past a grocery store in Argentina’s capital Buenos Aires. Prices in Argentina last month were 102.5% higher than in February last year
“The other day I came to ask for fruit and half a kilo of tomatoes. When he told me it cost 650 pesos (£2.66) I told him to take everything out and leave just the tomatoes because I didn’t have enough money,” Devita added.
The government has tried unsuccessfully to rein in prices, hurting purchasing power, savings, economic growth and the ruling party’s chances of clinging to power in this year’s elections.
Inflation is a source of frustration and anger as wages are often lower than the cost of goods despite government programs to cap prices and limit grain exports.
Client Patricia Quiroga, 50, said inflation was unbearable. “I’m just tired of all this, politicians fighting while people are starving,” she said.
