earlyretirement
Moderator
Very true @Twin City! I just received notification that my insurance company is leaving California. Same thing is happening all over Florida too. Not looking forward to getting my new quote.
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Economy What will the cost of living increases be for August 2024 (Utilities, transportation, rent, etc) ?
- Thread starter lovelyM
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According to a recent report, a typical family must earn $1,450,239.59 to be considered middle class, a 4.26% increase from July. It seems like such a small amount for a family of four.
www.infobae.com
Cuánto hay que ganar para ser de clase media en CABA
La inflación y el costo de vida en la Ciudad de Buenos Aires continúan en ascenso, haciendo cada vez más difícil para las familias alcanzar el estatus de clase media
www.infobae.com
Blockchain
Well-known member
But on the flip side then if only $1,075 USD per month is middle class salary for a family of 4. So does that mean if you're only single or married with no kids you can be middle class for a fraction of that amount? That must be true as the median income is so low there. So really how much do you need to be middle class if you're single?According to a recent report, a typical family must earn $1,450,239.59 to be considered middle class, a 4.26% increase from July. It seems like such a small amount for a family of four.
Cuánto hay que ganar para ser de clase media en CABA
La inflación y el costo de vida en la Ciudad de Buenos Aires continúan en ascenso, haciendo cada vez más difícil para las familias alcanzar el estatus de clase media
CecilM
Active member
This figure reflects the harsh reality many are facing. It's clear how Argentinians are adapting to cope with the crisis. Many people are buying less or switching brands to adjust their budgets. This trend shows the real impact of the economic situation on people's daily lives.
www.lanacion.com.ar
El consumo cayó 16,1% en julio, la peor baja interanual en los últimos tres años
En el acumulado en lo que va de 2024, el retroceso fue de 9,6%; en cuanto a la medición mensual, se observa que la cantidad de productos vendidos está estabilizada desde abril
www.lanacion.com.ar
Lucia
Member
Get ready to open your wallets, another hike in telecommunications is coming, affecting phone, internet, and cable TV services. We all know that price increases from companies like Personal, Movistar, and Claro are rarely small; they usually hit people’s wallets hard and negatively impact the economy.
www.ambito.com
Suben precio clave en las telecomunicaciones: cómo afecta a los servicios de Internet, telefonía y TV por cable
Si bien no existe una relación directa y lineal entre la actualización de la UTR y el aumento de las tarifas para los usuarios, es probable que se observe algún tipo de impacto en los costos de los servicios de telecomunicaciones, ya que suele transferirse.
www.ambito.com
David
Active member
Just got back into BA after some time away in the UK. Shocked at prices in dollars here. The prices have gone up tremendously. Restaurants are expensive now. People talk about inflation slowing down but prices are sky high. Price of everything has jumped up and it looks like prices are still heading up quite a bit. Ouch. BA is not a screaming bargain anymore.
Blockchain
Well-known member
It may not be as cheap as last year but prices are still a lot lower than many places around the world. Besides coffee which I found about the same price as back home, restaurants were still much cheaper. I think it's all relative.
Uncle Wong
Well-known member
It sounds like most of the people complaining are expats. You would think it would be locals doing the bulk of the complaining with their lower salaries but seems to mostly be expats or locals that have their savings in USD.
Interesting, I guess it's all a matter of perspective. I was there just a couple of months ago and found everything to be super cheap. People told us it had gone up a lot from two years ago, but still everything we did in BA cost maybe a third of what it would in the US. Ubers were so cheap we basically tipped the same amount as the ride.
If you live a good life in the US, I would say inflation the past year has been 10% or higher. Every major expense for us was up at least 7%, insurance being the steepest. But if you're a civic employee for example with free healthcare, fixed mortgage, kids at public school etc you might think it's closer to 3-4%. Groceries and car insurance are up a lot but apartment rents and gas prices have fallen at least as much.
Uncle Wong
Well-known member
I felt like you @CraigM. I think many complaining are expats that had really low prices the past year when things were less. By all accounts, last year it was about half the price or even less than when you came. I just think that people are comparing it to the cheapest/low. My friend in BA told me that prices go up and down over the years and only a few times when it was as cheap as last year.
I also felt that BA is still great value! I do think some things are expensive there for some things. But you can still find affordable meals too. It is still half the cost of many restaurants here in the States. Costs have gone up here quite a bit. My insurance has gone up a lot. Groceries feel like it is where it hits me the most. I agree Ubers felt almost free. I felt so grateful that I did the same thing often times tipping the same amount on short trips. It looks like even with the steep inflation Uber prices have not risen much at all. I wonder why not?
Blockchain
Well-known member
Agree about the cheap Ubers. I read today that taxi meters are going up 50% next week but I wonder if Uber prices will also go up. I just think maybe the Uber is supply and demand. There are so many Ubers in BA. I couldn't believe it. I never waited more than 3 minutes for an Uber.
On restaurant prices yes and no on being affordable. You can find cheap food like empanadas and pizzas. But I felt like some places especially American type food they gouge you. I got a Choripan in Soho and it was like $8 bucks which is surprised they get that kind of demand. Some burger places were charging the same as what I'd pay at a good burger place here in the US. Things like coffee and Coca Cola and sodas are expensive. Same or more than here.
On restaurant prices yes and no on being affordable. You can find cheap food like empanadas and pizzas. But I felt like some places especially American type food they gouge you. I got a Choripan in Soho and it was like $8 bucks which is surprised they get that kind of demand. Some burger places were charging the same as what I'd pay at a good burger place here in the US. Things like coffee and Coca Cola and sodas are expensive. Same or more than here.
Betsy Ross
Well-known member
I think on some of these rideshare companies like Uber and Didi and Cabify they are still fighting to build marketshare and don't want to raise prices too much. Some cities around the world people are switching back to taxis because rideshare is too expensive now. It also could be supply and demand where there are so many drivers they don't need to raise rates as so many people to drive.
Coffee and things like sodas have huge import taxes so many times it is more than in the USA. I still find it good value here compared to home. Every time I go home I am shocked how expensive dining out is and the last trip to my sister in California groceries were crazy expensive. $100 didn't buy much at all. $100 in BA still buys a lot of food at the grocery unless you are getting many imported items.
BA isn't the value that it was last year but it is still affordable compared to home.
Boy you are right about that, Ubers were easier to get than any other city I've visited.
Coffee was definitely close to par with the US, but I can't remember eating at a restaurant that wasn't cheap. We didn't try any burger joints but every steak place was maybe a third of US prices when you included beer & wine. Sotto Voce was cheap too, any top-rated Italian restaurant in the US would be 2-4x.
Restaurants have gotten a lot more expensive in the US too. Not sure if this is happening elsewhere but in Austin we've seen a number of new restaurants open that are at least 50% more expensive than their closest competitor. Mexican food was always a commodity here with so many choices, even the best ones were reasonably priced. But the other night we ate at new place, excellent food but cost over $100 a person with very limited alcohol. Same thing with a new Greek restaurant that just opened, great food, $100+ a head. And they're pretty fully booked.
earlyretirement
Moderator
Totally agree about Ubers in BA. I am always in a lot of meetings around town and typically in about 10-15 Ubers a day while I'm in Buenos Aires. So cheap and plentiful.
Very true about coffee prices. It's about the same as USA places. So many import taxes there which kills coffee prices. Expensive by Latin America standards but on par with USA cafes. I LOVE LOVE LOVE Sotto Voce and it's a really great place with great quality food. Expensive by BA standards but it's about 2-4X cheaper as @CraigM mentioned.
Restaurant prices in popular cities are very expensive. It has gone that way the past year or two. I notice the same thing here @CraigM. I went to a new steak place that just opened up here in San Diego recently and prices were out of this world. Same thing here in San Diego at most nice places where I end up spending $100 USD per person. Even with my kids often times we will go out to lunch/dinner on the weekend and prices add up.
Every time I go to BA it always feels good. Last year's prices were insanely cheap. I doubt we will get back to those levels again. As the economy continues to boom, and salaries go up prices I doubt will be so cheap like last year. However, I do think the peso is very strong now. I will be interested to see what happens once the govenment stops interceding in the peso and it floats freely.
Vince
Well-known member
I'm moving back to NYC next month and dreading the restaurant expenses. Here in BA I am accustomed to dining out almost every day but I know that will end once I move back. Very expensive and also they all expect 20% tip on everything.
@earlyretirement my sister lives in California and she commented how expensive things are there. She complains almost daily about one thing or another there. She was just telling me home insurance rates are getting crazy. I was surprised to hear how expensive it is there. Are you noticing that too?
Home insurance, car insurance, health insurance.... they've all gone up a ton the past year. Our health insurance premium rose 18% but apples to apples it was closer to 25% as deductibles and coverage limits rose, covered procedures dropped, etc (like insurance's version of shrink-flation).
earlyretirement
Moderator
Hi @Vince it will probably be quite the culture shock for you moving from BA back to NYC. I'm heading there next month and already bracing for the dining out bills. We always spend fortune there. My daughter is looking at Universities there. I will ping you if you want to grab a coffee and there already.
Not sure where your sister lives but many insurance companies are pulling out of California this and next year. I have had my house for 14 years and no claims ever. I have been informed by my insurance company that rates are tripling next year once my policy expires! Crazy but with all the companies pulling out it literally will go up 3X what I'm paying now. That is why so many people are leaving California. I'd argue one of the best places to raise a kid. Best weather in the USA and very beautiful but boy do you pay the sunshine tax!
earlyretirement
Moderator
Same thing here. Everything here in California keeps jumping up. Utility rates, home insurance, car insurance, and health insurance. My premiums just keep going up each year. Since I own my own company I have to buy private insurance and the rates will make you sick. I'd estimate about the same @CraigM about 20% to 25% when it's all said and done. My insurance company just told me it will cost $7,500 next year just to insure my home. I was paying about 1/3 of that. Some custom homes in my neighborhood are getting insurance quotes as high as $20,000 dollar for next year. Sickening.
$20,000 for home owners? These must be multi-million dollar mansions. I can't imagine paying that for homeowners coverage. Maybe a high fire risk area? I am glad I left California long ago. But then again I just looked on Zillow what my old house is worth now. I about lost it. I did not realize home values have gone up so much there. I haven't looked in a while. How accurate is Zillow in Southern California? I lived in Newport Beach before.
import export
Well-known member
If anything in much of California Zillow rates are probably lower than what you can get. My brother just sold his house and he got over the Zillow values. And not by a little. By quite a bit. I don't know if that is the norm. The estimates on all of these websites are all around the same now. Redfin, Zillow, Realtor.
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