Argentina inflation passes 100pc
INFLATION in argentina has roared past 100pc for the first time since 1991.
Prices last month were 102.5pc higher than in february last year, meaning they have more than doubled. ‘there’s just nothing left, there’s no money, people don’t have anything, so how do they buy?’ said Irene Devita, 74, in Buenos aires.
‘the other day I came and asked for fruit and half a kilo of tomatoes. When he told me it cost 650 pesos (£2.66), I told him take everything out and leave just the tomatoes because I don’t have enough money,’ Devita added. the government has tried in vain to tame prices, which dent people’s earning power, savings, economic growth and the ruling party’s chances of clinging on to power in elections later this year.
Inflation seeds frustration and anger as salaries often fall behind the cost of goods despite government schemes to cap prices and limit grain exports. Shopper Patricia Quiroga, 50, said inflation was impossible to bear. ‘I am just tired of all this, of the politicians who fight while the people die of hunger,’ she said.