BUENOS AIRES (Reuters) – Annual inflation in Argentina soared to 104.3 percent in March, according to the official statistics agency. said on fridayone of the highest rates in the world, putting pressure on people’s wallets and causing a cost of living crisis that pushes up poverty.
Inflation hit 7.7% this month, well above analysts’ forecasts of 7.1%, the fastest monthly rise since 2002, and a government battle against angry voters heading into October’s elections. I’m applying pressure.
Claudia Hernanzaes, an employee at the publishing company, said: “I think one day things will turn around. But today the inflation in Argentina is terrible. It feels like nothing I’ve ever felt before.” .
“In my case, the storage capacity is zero.”
Rising prices have hit wages and purchasing power, pushed poverty rates to nearly 40%, and eroded the popularity of the ruling Peronist coalition as the general election approached.
The world’s leading grain exporter is also grappling with the worst drought on record, devastating soybean, corn and wheat crops, costing billions of dollars from the economy due to lost exports and rising domestic prices. was robbed of
“Today’s numbers represent the worst moment war has had on international prices and the worst drought in our country’s history,” White House press secretary Gabriella Cerruti said on Twitter.
“We know how this affects our daily lives and every family, it hurts and occupies us,” she added, adding that the government expects the downward trend in inflation to start “soon.” I hope it will be reflected,” he said.
each shop is more expensive
For now, every trip to the supermarket is a reminder of the worst inflationary crisis since 1991, the end of hyperinflation. Retired Juan Tartara said prices have skyrocketed each week he visits the store.
“Sometimes you get 10% or 15% more food,” he said. “In a year, beef went from about 1,000 pesos ($4.66) or 1,200 pesos to 2,800 pesos.”
Inflation is likely to be one of the defining issues for voters in October’s election, when libertarian economist Javier Millais has made headlines in the polls with his breakthrough promises.
President Alberto Fernandez’s approval rating has fallen as inflation has spiked, and is now just above 20%. He has not yet confirmed whether he will seek re-election for a second term.
Paola Lavezzari also said inflation had forced him to tighten his purse strings and buy cheaper goods.
“The first thing you lose is the quality of the product. We used to consume better quality and today it’s not affordable,” she said.
“It used to be about 10 pesos more expensive, but now it’s 100 pesos more. It’s a lot of money for monthly shopping. The difference is huge.”
($1 = 214.6700 Argentine Pesos)
Reporting by Horacio Soria and Juan Bustamante. Written by Anna-Catherine Brigida.Editing Sandra Muller
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