Politics Having single-digit inflation is a good start

[little cloud]

Argentina’s yearly inflation holds at 290%, April’s rate down to single digits - Buenos Aires Herald

The INDEC reported that the inflation rate for April was 8.8%

buenosairesherald.com

 

[wonka]

It's a great achievement, there are even memes about it.

Caputo knocking out inflation 😂

 

[Fred58]

I have fun watching the memes LOL!

The guys watching as inflation is getting SLAYED in just 6 months 😂

 

[Vince]

The inflation rate under Milei keeps dropping. A great sign of a turn around.

 

[Wally]

Let's hope that it stays in this trajectory!

 

[Spend Thrift]

Inflation is definitely going down and the stronger US dollar really helps for expats like me!

People complain about how expensive it is here but honestly I think they are exaggerating or haven't been to the USA recently. Prices ARE more expensive than last year but people couldn't expect prices to stay that low forever.

I still find restaurants here much cheaper than back home. Try getting a good steak in the US and you'd be shocked. Unless you're going to Don Julio you can find good deals here.

 

[Russell]

Milei is doing things right, but it’s true that many people are finding it very difficult to cope with the situation. However, most say they are still making the effort because they have faith that things will get better. Prices have increased exorbitantly, and you’re right in saying that many don’t know what it’s like to live in the USA because many of them have never even left the country, so it's not a valid comparison. The people of Buenos Aires always find incredible ways to overcome obstacles. For example, they choose to buy second brands, cut some expenses, and sometimes reduce dining out. I know this because I have close friends who used to go out every weekend but now have reduced it to once or twice a month. We all have faith that the country will move forward.

 

[Val]

This post is from two weeks ago. This Argentine compared a purchase at McDonald's in the USA and, at the same time, made an online purchase at McDonald's in Argentina. Even with taxes and everything, his purchase is still cheaper in the USA. So it's true that many things have increased drastically in price.

 

[old fart]

You don't really need to watch a video like that to know that prices in Argentina skyrocketed since the election. But for long time expats in Argentina, it would be interesting to compare how much prices have gone up in the US, where inflation for the past 12 months is supposedly 2.8%. How much did the McDonald's in the video, which is in Santa Monica, CA, charge for the same items in May 2023? How much did it charge in 2022?

For many years now, we all know that the inflation rate published in the States does not reflect consumer's reality.

This is very true. Inflation in the USA has been extremely high. Friends all tell me everything has skyrocketed. Food costs, fuel costs, insurance, utility rates. I heard in California they increased minimum wage to $20 an hour so restaurants raised their prices quite a bit.

 

[Betsy Ross]

This company which is widely respected as one of the best Economist consulting firms in Argentina just projected 4.4% inflation rate for May. What Milei is doing will be taught in every economics class in the future. Like him or hate him, I'm not sure how anyone can argue that he has been effective at taming inflation.

 

[Digital Nomad]

You don't really need to watch a video like that to know that prices in Argentina skyrocketed since the election. But for long time expats in Argentina, it would be interesting to compare how much prices have gone up in the US, where inflation for the past 12 months is supposedly 2.8%. How much did the McDonald's in the video, which is in Santa Monica, CA, charge for the same items in May 2023? How much did it charge in 2022?

For many years now, we all know that the inflation rate published in the States does not reflect consumer's reality.

People keep posting how expensive it is here now vs. last year. I'm sure that is true but I still can get meals here at great prices compared to the States. My parents are shocked when I show them how affordable restaurants here are. Look at this post and $15 USD including tip for appetizer, entre, drink and dessert.

Ain't no way you're getting anything like this back home for anywhere near this price.

 

[Finance Prof]

People keep posting how expensive it is here now vs. last year. I'm sure that is true but I still can get meals here at great prices compared to the States. My parents are shocked when I show them how affordable restaurants here are. Look at this post and $15 USD including tip for appetizer, entre, drink and dessert.

Ain't no way you're getting anything like this back home for anywhere near this price.

Prices are stabilizing. Definitely higher than last year but things couldn't stay that low forever. Like Milei or hate him, inflation is coming down.

La inflación de mayo finalizó cerca del 5% según cálculos privados y la interanual mostraría la primera desaceleración en 10 meses

La postergación en ajustes de servicios públicos que definió el Gobierno ayudaron a conseguir la quinta merma mensual consecutiva. En junio se retomarán los aumentos y los analistas anticipan que puede haber un nuevo repunte

www.infobae.com

 

[MikeRoss]

It looks like the food inflation for the 3rd week of June was 0%! That is awesome. Probably a while since that happened.

 

[Jenn]

It looks like the food inflation for the 3rd week of June was 0%! That is awesome. Probably a while since that happened.

View attachment 6529

This is great news! I see the blue dollar is at 1,300 to $1 USD which is great news! My friend there said there is talk it will keep going up which is great for my trip. I hope once I get there things will be much cheaper and inflation will have stopped going up so much.

 

[Melibaires]

When everyone talks about devaluation, Milei responds that if inflation decreases, the Argentine peso won't lose value as quickly. Basically, if prices stop rising so much, the currency will stabilize and won't devalue as fast. It makes sense, and I think he's doing a good job so far.

Milei says he would slow crawling peg if inflation cools further

President Javier Milei says peso could weaken at a slower pace if inflation cools to a certain level.

batimes.com.ar

 

[Rose Mary]

As you know, I’ve been in BA for just a few weeks, but I’m trying to catch up on the country’s situation, whether it’s political or economic. Today I read that June’s inflation rate is the same as May’s, so I think Milei is doing a great job in that regard. I understand there’s a lot to improve, but I believe he’s on the right track.

Sorpresa en la inflación de junio: anticipan que podría ubicarse en el nivel de mayo pese a la suba de tarifas

La principal categoría del indicador, alimentos y bebidas registró una variación muy inferior a la de meses previos y contribuyó a atenuar el efecto de los incrementos en luz y gas

www.infobae.com

 

[Betsy Ross]

Inflation continues to go down. Inflation the past month is the lowest so far this year. Great trend to keep up!

 

[Finance Prof]

Inflation continues to go down. Inflation the past month is the lowest so far this year. Great trend to keep up!

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President Milei is doing a wonderful job with taming inflation. Argentina has experienced two consecutive months of financial surplus for the first time since 2011. This is very difficult to do with the mess that he inherited from Alberto Fernandez. Month over month inflation rate fell from 25.5% in December 2023 to 20.6% in January 2024. 13.2% in February 2024 to 11% in March.

It will take some time to completely heal but Argentina is doing it. Many thought this kind of thing was impossible. Milei always said the first half of the year would be very painful but then inflation would slow down. That is what is happening.

 

[Vince]

We would be experiencing hyperinflation if Milei didn't win. My executive banking manager in NYC at JP Morgan sent me a report and it says inflation expectations for the next 12 months are already at 68.9%. Those are 2019 levels. No one thought this was possible to do so soon.

Some people make fun of Milei for saying he should win the Nobel Prize but it's a real possibility if inflation can be totally tamed before he finishes his term. No one thought this was possible.

 

[Don Jorge]

The June inflation figures are out.

La inflación en la ciudad de Buenos Aires fue del 4,8% en junio y ascendió a 272,2% el último año

Así lo informó el flamante instituto de estadísticas de la ciudad de Buenos Aires; a cuánto llegó desde enero, cuál fue la suba en los alimentos y qué rubros subieron más que el promedio

www.infobae.com