A coffee for $3.50: Argentina is the most expensive country in Latin America

[McDonald]

I thought coffee was crazy expensive in Buenos Aires compared to other places in Latin America I have been to. Mostly the same price as in the USA.

Milei sure changed his tune quickly from the peso is crap to saying the dollar is going to fall like a piano.

A coffee for $3.50: Argentina is the most expensive country in Latin America

A price comparison with Brazil, Mexico, Colombia and Chile shows the consequences of using the exchange rate as a strategy against inflation

english.elpais.com

 

[Larry]

I thought coffee was crazy expensive in Buenos Aires compared to other places in Latin America I have been to. Mostly the same price as in the USA.

Milei sure changed his tune quickly from the peso is crap to saying the dollar is going to fall like a piano.

A coffee for $3.50: Argentina is the most expensive country in Latin America

A price comparison with Brazil, Mexico, Colombia and Chile shows the consequences of using the exchange rate as a strategy against inflation

english.elpais.com

Milei is a flip flopper. Very shortly ago he said that Cavallo was the best Economic Minister in history! And now that best Minister is saying that Milei's plan is not going to work. This is the beginning of the end.

 

[CecilM]

I totally agree with what you're saying. It seems like the cost of living in Argentina has definitely increased, and it's not just tourists who are feeling it. I recently read that Argentina has the most expensive Big Mac in Latin America, and it's soon to surpass Switzerland, where the most expensive Big Mac in the world is sold! Even remote workers from abroad are starting to leave, and there's been a wave of Brazilians returning home because they find it too difficult to stay here financially. Even people who used to spend their summers in Argentina's coast are now choosing Brazil, where the costs are almost the same. It's crazy how quickly things have shifted; this country is no longer viable for many people.

Cómo Argentina pasó de ser un "país barato" en dólares a uno de los más caros de América Latina - BBC News Mundo

El peso ha sido una de las monedas más apreciadas de 2024, lo que ha vuelto al país caro no solo para los extranjeros, sino también para los propios argentinos.

www.bbc.com

 

[Spend Thrift]

Milei is a flip flopper. Very shortly ago he said that Cavallo was the best Economic Minister in history! And now that best Minister is saying that Milei's plan is not going to work. This is the beginning of the end.

I liked him before and still like some of his policies but he just puts his foot in his mouth time after time. He should just focus on the economy. Once he started attacking gay and lesbians that was my last straw. Most gays that I know that were supporting him are now against him.

A shame as there was so much progress in Argentina. You would think for a libertarian he wouldn't care what people do personally. His speech at Davos was unhinged.

https://archive.ph/4lw2o

 

[GlasgowJohn]

@Spend Thrift. I agree the focus should be on the economy and to keep his mouth shut at other times.
But I am also getting worried about his real economic plans. And I am asking myself more and more, does he have a plan?

 

[Blockchain]

@Spend Thrift. I agree the focus should be on the economy and to keep his mouth shut at other times.
But I am also getting worried about his real economic plans. And I am asking myself more and more, does he have a plan?

@GlasgowJohn I agree. It seems like if he just focused on the economy and doesn't put himself out there on other issues that strike a nerve.

What is your opinion on what he said about the peso not being overvalued? I feel like he compensates too much when someone complains on what he is doing. Like saying the peso could go to 600 to $1 dollar. That doesn't make any sense to me. That would make things even crazier priced in dollars vs. now. What do locals think when he says things like that?

I guess maybe some locals that don't have dollar savings might like that so they can travel to neighboring countries? It is difficult to get a sense of things. Granted expats are going to complain but the people I met in BA are also complaining daily in WhatsApp chats that things are too expensive now.

I don't understand all of the intervention and how it works. I read a few articles about the government sterilizing currency and I like that they cut spending but they will need a lot of money this year. What happens if the IMF doesn't end up putting in more cash this year? Or rolling over the debt? Won't thinks collapse there?

 

[MikeRoss]

@Spend Thrift. I agree the focus should be on the economy and to keep his mouth shut at other times.
But I am also getting worried about his real economic plans. And I am asking myself more and more, does he have a plan?

It seems like a big part of their plan is depending on the IMF to loan more money. I wonder what happens if they don't decide to give more in the time frame Argentina needs it?

 

[Cheap Bastard]

@Spend Thrift. I agree the focus should be on the economy and to keep his mouth shut at other times.
But I am also getting worried about his real economic plans. And I am asking myself more and more, does he have a plan?

I would have to agree with you @GlasgowJohn. It is good they got inflation down but is it really down if the peso is overvalued and it will go right back up when the peso gets devalued??

I know the government is trying to fix things but I am also wondering what the plan is? Prices keep going up at restaurants. It seemed like for a while they were stable but cost on some things is mind blowing. Went to Starbucks and a drinker now is 7,800 pesos which was $7 using my credit card. These prices are more than back home. And scary thing is if they go up more. how is this normal?

 

[VINO]

@Spend Thrift. I agree the focus should be on the economy and to keep his mouth shut at other times.
But I am also getting worried about his real economic plans. And I am asking myself more and more, does he have a plan?

Well according to this the government's fear is that the peso will get too strong. 🤣🤣

En el Gobierno no hablan de devaluación sino de cómo hacer para que no baje mucho el dólar

Cuál es el “moño” que falta para cerrar el acuerdo con el FMI. El principal problema de la economía que analiza el presidente Milei con el equipo económico es cómo contener la excesiva apreciación del peso.

www.ambito.com

 

[James Bond]

I am not sure how Milei or anyone else can try to argue that Argentina is not expensive in dollars. This is just absurd to me. Look at that Big Mac index above. In what sane world should a Big Mac be priced the most expensive in the world at Switzerland prices??

It seems strange to me that people are trying to justify the high prices or trying to argue that there is not much inflation when that is just not true.

My girlfriend's mom is on medication and it is 5X the cost of what it costs here in Spain.

Los remedios hasta cinco veces más caros que en España

Así lo demuestra un informe del Observatorio de costos de la Salud.

www.perfil.com

If you get outside of the bigger cities rent is not bad at all and even in Madrid and Barcelona if you get outside of the city centers it is not too bad. That is one thing BA has going for it vs. Spain but it is not bad. Food is much cheaper in Spain and much healthier and better quality than BA.

Come to a town like Malaga and you will see it full of Argentines that have fled for a better and more affordable life. We may move my girlfriend's mother here. She has a Spanish passport. She has always resisted and called Buenos Aires home but she is almost ready to throw in the towel.

 

[Larry]

I am not sure how Milei or anyone else can try to argue that Argentina is not expensive in dollars. This is just absurd to me. Look at that Big Mac index above. In what sane world should a Big Mac be priced the most expensive in the world at Switzerland prices??

It seems strange to me that people are trying to justify the high prices or trying to argue that there is not much inflation when that is just not true.

My girlfriend's mom is on medication and it is 5X the cost of what it costs here in Spain.

Los remedios hasta cinco veces más caros que en España

Así lo demuestra un informe del Observatorio de costos de la Salud.

www.perfil.com

If you get outside of the bigger cities rent is not bad at all and even in Madrid and Barcelona if you get outside of the city centers it is not too bad. That is one thing BA has going for it vs. Spain but it is not bad. Food is much cheaper in Spain and much healthier and better quality than BA.

Come to a town like Malaga and you will see it full of Argentines that have fled for a better and more affordable life. We may move my girlfriend's mother here. She has a Spanish passport. She has always resisted and called Buenos Aires home but she is almost ready to throw in the towel.

Medicine is outrageous here! Even domestically made medicines are expensive in Argentina. They are robbing people with the prices. Spain has plentiful and delicious food everywhere! In the stores and markets. Anywhere you go you can find good food. In Buenos Aires now if you go to stores for healthy food the prices are too dear. Look at prices for good quality olive oil or greek yogurt. Prices astronomical.

Look at prices for healthcare plan and they are at outrageous levels compared to 2 years ago. Prices now for a family of 4 in Buenos Aires for a good medical plan is almost $1,000 USD. How much will that cost in Spain? I would guess at least 3 times lower.

 

[Wally]

I am not sure how Milei or anyone else can try to argue that Argentina is not expensive in dollars. This is just absurd to me. Look at that Big Mac index above. In what sane world should a Big Mac be priced the most expensive in the world at Switzerland prices??

It seems strange to me that people are trying to justify the high prices or trying to argue that there is not much inflation when that is just not true.

My girlfriend's mom is on medication and it is 5X the cost of what it costs here in Spain.

Los remedios hasta cinco veces más caros que en España

Así lo demuestra un informe del Observatorio de costos de la Salud.

www.perfil.com

If you get outside of the bigger cities rent is not bad at all and even in Madrid and Barcelona if you get outside of the city centers it is not too bad. That is one thing BA has going for it vs. Spain but it is not bad. Food is much cheaper in Spain and much healthier and better quality than BA.

Come to a town like Malaga and you will see it full of Argentines that have fled for a better and more affordable life. We may move my girlfriend's mother here. She has a Spanish passport. She has always resisted and called Buenos Aires home but she is almost ready to throw in the towel.

I hear great things about Spain. More and more friends are moving there from Argentina. I heard Malaga has a big Argentine community now. I am definitely noticing meals are getting more and more expensive. Inflation is slowing down but it seems like the rate of increases at restaurants is just based on local's greed in wanting to charge as much as they can.

I have seen this before when people think things will eventually crash they try to charge more. Most are cutting back on going out. I admit that in Spain there is more fresh food and it is less expensive but you can still get great quality vegetables but many of it is seasonal. Beef in the butchers is still much less than the States. I don't want to get into comparing too much prices here vs. USA or Spain. I will admit they are not cheap and still going up.

 

[import export]

I would agree that things are more expensive but I think that there is a lot of exaggeration by you @Larry by trying to make Argentina seem like the most expensive place in the world. That isn't true. The typical salary is still very low. Look at the cost of the basic canasta basica (food basket) and it is very low. Lower than many other countries in South America or around the same accounting for inflation.

Many things are expensive but many things are still a relative bargain including housing.

I believe that there will be extreme ups and downs with prices until more meaningful structural reforms are made to the tax system. If the locals are willing to suffer the high prices I feel like expats have no business complaining.

 

[Nasdaq]

I would agree that things are more expensive but I think that there is a lot of exaggeration by you @Larry by trying to make Argentina seem like the most expensive place in the world. That isn't true. The typical salary is still very low. Look at the cost of the basic canasta basica (food basket) and it is very low. Lower than many other countries in South America or around the same accounting for inflation.

Many things are expensive but many things are still a relative bargain including housing.

I believe that there will be extreme ups and downs with prices until more meaningful structural reforms are made to the tax system. If the locals are willing to suffer the high prices I feel like expats have no business complaining.

Change won't happen overnight. It's going to take several years. No one can argue things aren't expensive now on a lot of things. Especially if you have children. You can still manage to get by relatively well especially if you already own your own place. Even with inflated hoa bills they are still managing in most buildings. Much less than in the USA.

I like the changes getting rid of big government. Trump is doing the same in the USA now. It has to start somewhere.

I like that inflation is heading in the right direction and salaries are going up but I think he will run out of time unless more changes are made.

 

[Spend Thrift]

I would agree that things are more expensive but I think that there is a lot of exaggeration by you @Larry by trying to make Argentina seem like the most expensive place in the world. That isn't true. The typical salary is still very low. Look at the cost of the basic canasta basica (food basket) and it is very low. Lower than many other countries in South America or around the same accounting for inflation.

Many things are expensive but many things are still a relative bargain including housing.

I believe that there will be extreme ups and downs with prices until more meaningful structural reforms are made to the tax system. If the locals are willing to suffer the high prices I feel like expats have no business complaining.

I think it is ok for expats to complain. After all tourists can vote with their wallets. Same as digital nomads. I spend a lot of money here and I'm sure I am not the exception. With my rent, bills, going out to eat, employing a maid, shopping. That adds a lot of money to the economy. But I will probably go to Brazil after the lease ends. I do feel for locals but it is perfectly fine for us to complain about the cost of some things.

 

[McDonald]

@Spend Thrift. I agree the focus should be on the economy and to keep his mouth shut at other times.
But I am also getting worried about his real economic plans. And I am asking myself more and more, does he have a plan?

I am doing the same. I get change will take time but are locals really better off besides the already rich people here that seem to be getting richer with various schemes to make money. Is the typical person on the street doing better?

 

[Larry]

I am doing the same. I get change will take time but are locals really better off besides the already rich people here that seem to be getting richer with various schemes to make money. Is the typical person on the street doing better?

No they are not.

 

[daveholman]

I'm just sitting here with my cafe con leche, dos medialunas and jugo de naranja for ARS4500 wondering where these outrageous prices are...

 

[RN in BA]

I'm just sitting here with my cafe con leche, dos medialunas and jugo de naranja for ARS4500 wondering where these outrageous prices are...

That is great! What neighborhood are you in? I found some specials in the morning and also executive lunches that were also good value.

 

[daveholman]

That is great! What neighborhood are you in? I found some specials in the morning and also executive lunches that were also good value.

Cafe Restretto on Santa Fe, close to Alto Palermo mall