Argentina: Inflation Resumes Its Decline, But . . .

[Tango]

The race against time. I'm amazed how much patience Argentines have had during this recession. Just like this article says, lately some of my friends that voted for Milei are losing hope that things will improve any time soon. They aren't blaming one side or another but just frustrated at their situation and he is the one in office. I explained there is no other alternative.

Argentina: Inflation Resumes Its Decline, But . . . | National Review

Much of the fall reflected the government’s decision to postpone increases in fuel taxes and utility prices and leave bus and train fares untouched.

www.nationalreview.com

 

[Betsy Ross]

The race against time. I'm amazed how much patience Argentines have had during this recession. Just like this article says, lately some of my friends that voted for Milei are losing hope that things will improve any time soon. They aren't blaming one side or another but just frustrated at their situation and he is the one in office. I explained there is no other alternative.

Argentina: Inflation Resumes Its Decline, But . . . | National Review

Much of the fall reflected the government’s decision to postpone increases in fuel taxes and utility prices and leave bus and train fares untouched.

www.nationalreview.com

People are still holding on and seeing some light at the end of the tunnel. But I agree if things don't drastically improve by the end of this year that can change. If the economy doesn't get start moving lots of businesses will close down. Many businesses are in the position of this man on this article.

“The Chainsaw Never Stops.” Milei’s Support Survives His Economic Experiment

Argentina’s libertarian president came to power promising to slash spending. Voters are suffering, yet polls show his support endures — for now.

www.bnnbloomberg.ca

 

[Wally]

No doubt the next few months will be critical in how things turn out. Here is a recent survey on Argentine perceptions of the direction of the country.

Encuesta revela percepciones sobre el gobierno de Javier Milei y la situación del país

Un reciente informe de Management & Fit proporciona una visión detallada de las percepciones ciudadanas sobre la dirección del país y la confianza en el gobierno del presidente Javier Milei. La…

eduardogerman-com.translate.goog

 

[Betsy Ross]

I'd say we are off to a great start with inflation. Look what Massa did and look what Milei is doing.

 

[Uncle Wong]

Good to see they stopped hyper-inflation but on an annual basis still ugly ugly.

 

[Betsy Ross]

Inflation back to 2021 levels.

Argentina Inflation Slows to 2021 Levels in Win For Milei

Argentina’s monthly inflation reached the lowest level since late 2021, scoring a significant win for President Javier Milei as he makes lowering price spirals the centerpiece of his administration.

www.bnnbloomberg.ca

 

[Jenn]

Inflation back to 2021 levels.

Argentina Inflation Slows to 2021 Levels in Win For Milei

Argentina’s monthly inflation reached the lowest level since late 2021, scoring a significant win for President Javier Milei as he makes lowering price spirals the centerpiece of his administration.

www.bnnbloomberg.ca

It sounds good that inflation is back to 2021 levels but is that really anything to write home about? I thought 2021 was a really horrible year.

People keep talking about how inflation is going down but my friends there are saying the opposite. They are going to leave Argentina and come to Spain once their apartment contract ends. They locked in the price for their rental in dollars so that is good and it doesn't change but they pay for the building administration expenses as agreed with their rental contract.

They said grocery store stabilized a bit but everything else is over double and some things 3x what it was last year. That doesn't sound like slowing inflation to me. I guess it is good supermarket prices are not going up too much compared to before. But they are bitching about the expenses rising each month. They said it is going up every month. Same thing for their utility bills. It was not too much but now they said the bills they are getting are really adding up. Restaurant prices too are much more expensive than last year.

I don't get where this 3.5% monthly inflation figure comes from if so many things are going up. It can't just be them because I am reading about it every day online too.

 

[James Bond]

It sounds good that inflation is back to 2021 levels but is that really anything to write home about? I thought 2021 was a really horrible year.

People keep talking about how inflation is going down but my friends there are saying the opposite. They are going to leave Argentina and come to Spain once their apartment contract ends. They locked in the price for their rental in dollars so that is good and it doesn't change but they pay for the building administration expenses as agreed with their rental contract.

They said grocery store stabilized a bit but everything else is over double and some things 3x what it was last year. That doesn't sound like slowing inflation to me. I guess it is good supermarket prices are not going up too much compared to before. But they are bitching about the expenses rising each month. They said it is going up every month. Same thing for their utility bills. It was not too much but now they said the bills they are getting are really adding up. Restaurant prices too are much more expensive than last year.

I don't get where this 3.5% monthly inflation figure comes from if so many things are going up. It can't just be them because I am reading about it every day online too.

People are just relieved that hyper-inflation seems to be contained a bit for now. I say for now because there is no guarantee that things could change.

Your friends are probably complaining so much because the dollar inflation has been extreme in the past year. Supermarket prices are still going up. Not like before but they are going back up according to friends and family in BA. Medical bills are going up again too. Everyone is complaining about condo fees. I just read an expat that posted about this last night.

Electricity has gone up a lot but it is still cheaper than most places. It probably will go up a lot more.

https://twitter.com/x/status/1844905485327106459

 

[Larry]

Your friends are probably complaining so much because the dollar inflation has been extreme in the past year

That is putting it mildly! Inflation in the past year has been horrible. And worse yet they are intervening with exchange rate. Normally when a country has high inflation in their currency, US dollar increase in value against local currency. Here it has been opposite. Prices have gone up about 35% in dollars over the past few weeks.

Look at poverty rates. It is laughable to try to argue that poverty rates are falling. That is a joke.

 

[Pink Panther]

That is putting it mildly! Inflation in the past year has been horrible. And worse yet they are intervening with exchange rate. Normally when a country has high inflation in their currency, US dollar increase in value against local currency. Here it has been opposite. Prices have gone up about 35% in dollars over the past few weeks.

Look at poverty rates. It is laughable to try to argue that poverty rates are falling. That is a joke.

I agree inflation has been terrible! The dollar inflation has been high which is what really hurts. Normally it isn't this bad. Food prices are still going up about 2% a month which anywhere else in the world would be shocking.

 

[Uncle Wong]

This chart looks like food inflation is going down. It shows food basket going down 2.5% this month.

 

[Wally]

This chart looks like food inflation is going down. It shows food basket going down 2.5% this month.

View attachment 7908

Yes at the grocery store things have been much better the past few months. Some things with the recession are on deep discount. There are less people shopping as budgets are tight. You can see all kinds of promotions like this 2X1 deal.

 

[BuySellBA]

Food inflation is stabilizing.

https://twitter.com/x/status/1854946139646070801

 

[earlyretirement]

October inflation numbers were just announced and inflation is trending down. There are a lot of things that are still going up at a fast pace. Medical insurance premiums keep going up at about a 6% a month rate. HOA bills also continue to go up.

Argentina's October 2024 inflation numbers just were announced. They came in lower than expected.

The inflation rate for October was 2.7%, which is lower than the anticipated 3%. This figure represents the lowest monthly inflation rate Argentina has experienced since November 2021, nearly three years ago.

Despite the recent improvement, inflation in Argentina remains high:

Year-to-date inflation (January to October 2024): 107%Annual inflation rate (last 12 months): 193%It's worth noting that this is the first time the annual inflation rate has dipped below 200% since President Javier Milei took office.

 

[earlyretirement]

Some more data.

 

[earlyretirement]

🇦🇷Wholesale inflation was 1.2% in October in Argentina.

Imported products registered deflation for the second consecutive month, according to INDEC.

 

[Wally]

Love seeing the numbers come down every day and watching my stock portfolio go up every day. Every day my Argentine stocks keep going up.

 

[MikeYoung]

Love seeing the numbers come down every day and watching my stock portfolio go up every day. Every day my Argentine stocks keep going up.

But is inflation really this low? Many government inflation numbers all over the world are manipulated and fake. My local friends are telling me how expensive everything is. They tell me at the supermarket the prices are still going up. Not like before but still going up.

They must not count things like expenses in buildings, utility rates which make up a big part of people's monthly bills.