www.reuters.com Open in urlscan Pro
2600:9000:235a:6600:15:5a3e:9d40:93a1  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to main content

Exclusive news, data and analytics for financial market professionalsLearn more
aboutRefinitiv

 * World
   Browse World
    * Africa
    * Americas
    * Asia Pacific
    * China
    * Europe
    * India
    * Israel and Hamas at War
   
    * Japan
    * Middle East
    * Ukraine and Russia at War
    * United Kingdom
    * United States
    * Reuters NEXT

 * US Election
 * Business
   Browse Business
    * Aerospace & Defense
    * Autos & Transportation
    * Davos
    * Energy
    * Environment
    * Finance
    * Healthcare & Pharmaceuticals
   
    * Media & Telecom
    * Retail & Consumer
    * Future of Health
    * Future of Money
    * Take Five
    * World at Work

 * Markets
   Browse Markets
    * Asian Markets
    * Carbon Markets
    * Commodities
    * Currencies
    * Deals
    * Emerging Markets
    * ETFs
    * European Markets
   
    * Funds
    * Global Market Data
    * Rates & Bonds
    * Stocks
    * U.S. Markets
    * Wealth
    * Macro Matters

 * Sustainability
   Browse Sustainability
    * Boards, Policy & Regulation
    * Climate & Energy
    * Land Use & Biodiversity
    * Society & Equity
    * Sustainable Finance & Reporting
    * The Switch
    * Reuters Impact

 * Legal
   Browse Legal
    * Government
    * Legal Industry
    * Litigation
    * Transactional
    * US Supreme Court

 * Breakingviews
   Browse Breakingviews
    * Breakingviews Predictions

 * Technology
   Browse Technology
    * Artificial Intelligence
    * Cybersecurity
    * Space
    * Disrupted

 * More
   Investigations
   Sports
    * Athletics
    * Baseball
    * Basketball
    * Cricket
    * Cycling
    * Formula 1
    * Golf
    * NFL
    * NHL
    * Soccer
    * Tennis
   
   Science
   Lifestyle
   Graphics
   Pictures
   Wider Image
   Podcasts
   Fact Check
   Video
   Sponsored Content
    * Reuters Plus
    * Press Releases

My News

Sign InRegister

 * Americas
 * Worker Rights


ARGENTINA'S TRIPLE-DIGIT INFLATION SLOWS, BUT CASH-STRAPPED WORKERS STRUGGLE TO
PAY BILLS

By Horacio Fernando Soria
October 10, 202411:14 PM GMT+2Updated 2 days ago
Text
 * Small Text
 * Medium Text
 * Large Text

Share
 * X
 * Facebook
 * Linkedin
 * Email
 * Link

 * Summary

 * Annual inflation at 209%, month-on-month at 3.5% in September
 * President Milei cuts subsidies, trims public sector jobs
 * Recession and poverty rates surge to around 53%

BUENOS AIRES, Oct 10 (Reuters) - Argentina's triple-digit inflation, among the
world's highest, is starting to slow down but this offers little relief for
workers whose salaries have stayed the same while costs of basic goods
skyrocketed and the government slashed state subsidies.
"We're losing track of what's expensive and what's cheap," said university
professor Daniel Vazquez while shopping in Buenos Aires. "Prices keep going up
and the only thing that isn't going up is salaries."
Advertisement · Scroll to continue

"The gap is very, very big," he said.
While annualized inflation in September remained well into the triple digits at
209%, month-on-month price hikes slowed to their lowest level since late 2021 at
3.5%, data from the national statistics agency showed on Thursday.
The data landed in line with the forecasts of analysts, who predict that
inflation will end 2024 at 124%.
Libertarian President Javier Milei has cut subsidies to sectors such as energy
and transportation, while vowing to trim what he calls bloat in the public
sector, shuttering some offices and trimming jobs.
Advertisement · Scroll to continue

"You've never seen inflation being fought like this before. It takes a little
longer but it's genuine," Milei wrote on X after the inflation data was
published on Thursday.

Constumers check products at a wholesaler,as Argentina is due to release
consumer inflation data for April, in Buenos Aires, Argentina May 10, 2024.
REUTERS/Irina Dambrauskas/File Photo Purchase Licensing Rights, opens new tab
The tough austerity drive has prolonged a recession and caused poverty rates to
surge to around 53%.
Computer programmer Ivan Cortesi, 30, said that while food prices remained
similar to last month, utility costs rose significantly.

"This past month there has been a significant increase in all utilities," he
said.
According to the statistics agency, rents as well as water, power and gas prices
led monthly inflation, up over 7%, followed by clothing and shoes which rose 6%
and education costs that increased over 4%.
Food prices increased just 2% from last month but more than tripled their level
from a year ago, while housing and utility costs nearly quadrupled. Cigarettes,
alcohol, healthcare, transport and communications also tracked annual inflation
well above 200%.

Milei devalued the local currency when he took office in December, and the sharp
spending cuts have particularly hit informal workers, civil servants,
pensioners, doctors and teachers.
On Wednesday, Argentina's Congress failed to overturn Milei's controversial veto
of a law that would have shored up university spending in line with inflation,
following mass protests by students and university workers against the measure.
Milei has vowed to veto any law that threatens the fiscal balance.

The Reuters Daily Briefing newsletter provides all the news you need to start
your day. Sign up here.

Reporting by Horacio Fernando Soria and Hernan Nessi; Writing by Sarah Morland;
Editing by David Gregorio, Nick Zieminski and Sandra Maler

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Share
 * X
 * Facebook
 * Linkedin
 * Email
 * Link

Purchase Licensing Rights


READ NEXT

 * ANALYSISUruguay referendum could see retirement age falling to 60
 * AmericascategoryVenezuela cancels passports of dozens of activists and
   journalists, FT reports
 * InsightCubans are disappearing as they sail to America, leaving a painful
   void
 * EnvironmentcategoryOff Argentina's Patagonian coast, whales and their calves
   dive deep for food
 * AmericascategoryNicaragua breaks diplomatic relations with Israel




WORLD


 * HARRIS RELEASES MEDICAL REPORT, DRAWING CONTRAST WITH TRUMP
   
   United Statescategory · October 13, 2024 · 12:19 AM GMT+2 · 11 min ago
   
   Kamala Harris' campaign released a letter from her doctor that pronounced her
   in good health and fit to serve as president.

 * Asia PacificcategorySister of North Korean leader lashes out at South Korean
   drones12:04 AM GMT+2 · Updated 25 min ago
 * Middle EastcategoryIsrael orders evacuation of more southern Lebanese
   townsOctober 12, 2024
 * Middle EastcategoryThousands trapped in Jabalia camp as Israel escalates
   deadly attacks in northern GazaOctober 12, 2024
 * ANALYSISThe new US strategy on the Lebanon conflict: Let it play outOctober
   12, 2024




SITE INDEX


LATEST

 * Home
 * Authors
 * Topic Sitemap
 * Archive
 * Article Sitemap


BROWSE

 * World
 * Business
 * Markets
 * Sustainability
 * Legal
 * Breakingviews
 * Technology
 * Investigations
 * Sports
 * Science
 * Lifestyle


MEDIA

 * 
   Videos
 * 
   Pictures
 * 
   Graphics
 * 
   Podcasts


ABOUT REUTERS

 * About Reuters, opens new tab
 * Careers, opens new tab
 * Reuters News Agency, opens new tab
 * Brand Attribution Guidelines, opens new tab
 * Reuters Leadership, opens new tab
 * Reuters Fact Check
 * Reuters Diversity Report, opens new tab


STAY INFORMED

 * Download the App (iOS), opens new tab
 * Download the App (Android), opens new tab
 * Newsletters


INFORMATION YOU CAN TRUST

Reuters, the news and media division of Thomson Reuters, is the world’s largest
multimedia news provider, reaching billions of people worldwide every day.
Reuters provides business, financial, national and international news to
professionals via desktop terminals, the world's media organizations, industry
events and directly to consumers.


FOLLOW US

 * X
 * Facebook
 * Instagram
 * Youtube
 * Linkedin


THOMSON REUTERS PRODUCTS

 * WESTLAW, OPENS NEW TAB
   
   BUILD THE STRONGEST ARGUMENT RELYING ON AUTHORITATIVE CONTENT,
   ATTORNEY-EDITOR EXPERTISE, AND INDUSTRY DEFINING TECHNOLOGY.

 * ONESOURCE, OPENS NEW TAB
   
   THE MOST COMPREHENSIVE SOLUTION TO MANAGE ALL YOUR COMPLEX AND EVER-EXPANDING
   TAX AND COMPLIANCE NEEDS.

 * CHECKPOINT, OPENS NEW TAB
   
   THE INDUSTRY LEADER FOR ONLINE INFORMATION FOR TAX, ACCOUNTING AND FINANCE
   PROFESSIONALS.


LSEG PRODUCTS

 * WORKSPACE, OPENS NEW TAB
   
   ACCESS UNMATCHED FINANCIAL DATA, NEWS AND CONTENT IN A HIGHLY-CUSTOMISED
   WORKFLOW EXPERIENCE ON DESKTOP, WEB AND MOBILE.

 * DATA CATALOGUE, OPENS NEW TAB
   
   BROWSE AN UNRIVALLED PORTFOLIO OF REAL-TIME AND HISTORICAL MARKET DATA AND
   INSIGHTS FROM WORLDWIDE SOURCES AND EXPERTS.

 * WORLD-CHECK, OPENS NEW TAB
   
   SCREEN FOR HEIGHTENED RISK INDIVIDUAL AND ENTITIES GLOBALLY TO HELP UNCOVER
   HIDDEN RISKS IN BUSINESS RELATIONSHIPS AND HUMAN NETWORKS.

 * Advertise With Us, opens new tab
 * Advertising Guidelines
 * Purchase Licensing Rights, opens new tab

 * Cookies, opens new tab
 * Terms of Use
 * Privacy, opens new tab
 * Digital Accessibility, opens new tab
 * Corrections
 * Site Feedback, opens new tab

All quotes delayed a minimum of 15 minutes. See here for a complete list of
exchanges and delays.

© 2024 Reuters. All rights reserved






RIGHT TO WITHDRAW CONSENT UNDER GDPR

We and our 157 partners store and/or access information on a device, such as
unique IDs in cookies to process personal data. You may accept or manage your
choices by clicking below, including your right to object where legitimate
interest is used, or at any time in the privacy policy page. These choices will
be signaled to our partners and will not affect browsing data.Cookie
PolicyPrivacy Statement


WE AND OUR PARTNERS PROCESS DATA TO PROVIDE:

Use precise geolocation data. Actively scan device characteristics for
identification. Store and/or access information on a device. Personalised
advertising and content, advertising and content measurement, audience research
and services development. List of Partners (vendors)

Allow All Reject All Show Purposes


Feedback