Disaster Argentina inflation hit 109% and keep rising - Breaking news, Moronic peronism shit the Argentina economy yet again!

Argentina inflation smashes past every forecast to hit 109%​

By Miguel Lo Bianco and Hernan Nessi



[1/4] A costumer counts money before buying tangerines in a green grocery store, as Argentines struggle amid rising inflation, in Buenos Aires, Argentina May 11, 2023. REUTERS/Agustin Marcarian

1234

BUENOS AIRES, May 12 (Reuters) - Argentina's annual inflation rate soared to 109% in April, the country's statistics agency said on Friday, smashing past analyst forecasts and stoking anger among hard-hit consumers who are increasingly having to skimp and save to get by.
The South American nation, an important grains exporter and the region's no. 2 economy, posted 8.4% monthly inflation in April, well above analyst forecasts of 7.5% and the highest in decades. That took the 12-month rate to an eye-watering 108.8%.
Advertisement · Scroll to continue

The price spike has pushed one in four people into poverty in a country that has battled for decades with high inflation, along with cyclical debt and currency crises. Dwindling central bank reserves are now imperiling the government's finances.
"They've turned us into a country of beggars," Carlos Andrada, a 60-year-old self-employed worker, told Reuters as he searched for cut-price deals at a vegetable stall at a market in the suburbs of capital city Buenos Aires.
"One despairs because after working all your life, you have to fight just to get a tomato or a bell pepper," he said.
Advertisement · Scroll to continue

The highest analyst estimate in a Reuters poll for April's monthly inflation rate had been 8.3%. "The data exceeded all forecasts," said economist Daniel Artana from consultancy FIEL.

Reuters Graphics Reuters Graphics
Argentina's fragile economic situation has been aggravated by a historic drought since last year, which has hammered soybeans, corn and wheat exports, draining foreign reserves and hindering the government's ability to fight currency weakness.
Volatility in the foreign exchange market, which saw the peso hit record lows near 500 to the dollar in parallel markets last month, has inflamed prices further and strained Argentina's huge $44 billion loan deal with the International Monetary Fund.
"When I came last time (to the market), I paid 300 pesos a kilo for bell peppers - it's 300 pesos a half kilo now," said Olivia Maria Belbruno, 70, a retiree.
Advertisement · Scroll to continue

"These are the governments we have and we, the citizens, must think because we are the ones who give them our votes."
The Peronist ruling coalition is battling to bring prices down ahead of August primary elections and a general ballot in October.
"I've stopped going out to eat once a month, we haven't been on vacation anywhere for four years, we had to sell the car because we couldn't pay insurance, licenses and garage costs," said graphic worker Salvador Paterno, 64.
"We use little air conditioning, heating. Everyone cuts back on these habits to make ends meet - if you even make it at all."

Reuters Graphics Reuters Graphics
Reporting by Miguel Lo Bianco; Writing by Nicolás Misculin; Editing by Adam Jourdan
Click to expand...

Argentina and Inflation goes hand in hand.
 
  • Informative
  • Like
Reactions: Falcos_Commisar and Jonah Hill poster
Click to expand...
Let's not forget how a good portion of the Argentinian populace literally lives on government gibs.
And they'll all vote for peronchos again come next election. For the vast majority of people, it is the local righties who are to blame. Bankers, capitalists, so and so who work against the Kirchneristas who dindu nuffin, and a large et cetera. Everyone is to blame except themselves.

They deserve everything that comes their way. Enjoy your asado de polenta, mamasanes.
 
  • Like
  • Informative
Reactions: Falcos_Commisar, Matt Damon, Kheapathic and 7 others
Kendall Motor Oil said:
Argentinians were telling me the country is a basket case because of Peronism and the more extreme versions. Your options are apparently "socialism" or more extreme "socialism". There are a lot of people on welfare and govt employees steal. There was a push for trannies to get money from the govt.
Click to expand...
"But that's not real socialism!" Lol. This is what happens. You can't even afford to eat. It's coming to America, we're only feeling the rumblings right now.
 
  • Like
  • Feels
  • Dumb
Reactions: Kermit Jizz, Exterminatus, Falcos_Commisar and 3 others
1684121716946.png
Literally ArJUSTina
NoReturn said:
(lmao, "Why weren't people turning to bitcoin?")
Click to expand...
Cryptofags truly believe people with no electricity and no internet will somehow be able to use their imaginary highly volatile coins

In 2002 argentina the crash was so bad it was back to a barter economy, gonna happen again
 
  • Like
Reactions: Chad Holdenford, Falcos_Commisar and NoReturn
Brazil meanwhile is putting their ass on the line to help Argentina, because the retarded communist Lula is big friends with the retarded Peronista.

I fucking hate it here I hate the fucking sheep nigger cattle who treat government like Daddy and the fucking centrist faggots who lied to themselves that Bolsonaro was the same as Lula.
 
  • Like
  • Feels
Reactions: Exterminatus, Chad Holdenford and Falcos_Commisar
Yuuichirou Kumada said:
Let's not forget how a good portion of the Argentinian populace literally lives on government gibs.
And they'll all vote for peronchos again come next election. For the vast majority of people, it is the local righties who are to blame. Bankers, capitalists, so and so who work against the Kirchneristas who dindu nuffin, and a large et cetera. Everyone is to blame except themselves.

They deserve everything that comes their way. Enjoy your asado de polenta, mamasanes.
Click to expand...
Goddamn Argentina was such a nice place from about 1900-1965 or so. Then it all went downhill
 
  • Feels
  • Like
Reactions: Chad Holdenford and Cool Dog Returns
General Emílio Médici said:
Brazil meanwhile is putting their ass on the line to help Argentina, because the retarded communist Lula is big friends with the retarded Peronista.
Click to expand...
Did they just announce something? because we were all LMFAOing at lula telling alberto that there was no money and just gave him a "good luck bro" then sent him back to buenos aires
 
Cool Dog Returns said:
Did they just announce something? because we were all LMFAOing at lula telling alberto that there was no money and just gave him a "good luck bro" then sent him back to buenos aires
Click to expand...

Haddad went to Japan to cover for them for some reason. Also Lula had planned to help them and agreed to build a 4 billion BRL refinery there a month back.

Maybe he has been forced to drop his support of them by the rest of the corruption clique. Alckmin can't kick the fucker downstairs soon enough.
 
  • Like
Reactions: Chad Holdenford and WelperHelper99
Earlier today (or yesterday), their VP and former president Cret-- Christina published some long ass message on her website blaming everybody for the bad economy except themselves and said that trying to get rid of Peronism is literally Hitler (not with those words).

Yuuichirou Kumada said:
Let's not forget how a good portion of the Argentinian populace literally lives on government gibs.
Click to expand...
Not only they live on gov. gibs, but a big bunch of them feel entitled to them. I know a few who are against socialism and are pro capitalism (as they love money and making money), but they still think they are entitled to free gov. services like health care and education. Even middle class Argentinians who aren't struggling to make ends meet feel they don't have to pay to go to school or to see a doctor and they don't understand why this should be considered a "socialist" measure. It's really, really strange. They are truly unable to realise this is what it's fucking up their country, they think that they need to keep pushing for the same, only making it better this time to work.
 
  • Like
  • Feels
Reactions: Exterminatus, Falcos_Commisar and Chad Holdenford
Tasty Tatty said:
Earlier today (or yesterday), their VP and former president Cret-- Christina published some long ass message on her website blaming everybody for the bad economy except themselves and said that trying to get rid of Peronism is literally Hitler (not with those words).


Not only they live on gov. gibs, but a big bunch of them feel entitled to them. I know a few who are against socialism and are pro capitalism (as they love money and making money), but they still think they are entitled to free gov. services like health care and education. Even middle class Argentinians who aren't struggling to make ends meet feel they don't have to pay to go to school or to see a doctor and they don't understand why this should be considered a "socialist" measure. It's really, really strange. They are truly unable to realise this is what it's fucking up their country, they think that they need to keep pushing for the same, only making it better this time to work.
Click to expand...
Then they all deserve the hell Argentina is going to enter.
 
You must log in or register to reply here.
Back