- Title: Argentines see glimmers of economic recovery as inflation woes
- Date: 11th December 2024
- Summary: BUENOS AIRES, ARGENTINA (DECEMBER 10, 2024) (REUTERS) (MUTE) VARIOUS OF DRONE SHOTS OF OBELISK OF BUENOS AIRES AND REPUBLIC SQUARE VARIOUS OF THE INDEC BUILDING (Ed’s note: The National Institute of Statistics and Census of Argentina) SAN FERNANDO, BUENOS AIRES, ARGENTINA (DECEMBER 10, 2024) (REUTERS) VARIOUS OF PRICE OFFERS AND PROMOTIONS ANNOUNCED OUTSIDE STORE VARIOUS OF TEXTILE MERCHANT, ARAM BOYACIYAN, WORKING IN HIS SHOP AND RECEIVING CLIENTS (SOUNDBITE) (Spanish) TEXTILE MERCHANT, ARAM BOYACIYAN, SAYING: "My perception is that we've already passed the worst. It seems to me that the economy hit bottom two months ago. In my sector, where we work with the purchasing power of the middle and lower-middle class, those who are stable, who have a formal salary, seem to be recovering purchasing power. We understand the rules of the game and what’s next. Six months ago, we didn't knew where we were heading, but now we do, and everyone has to adapt to these rules." VARIOUS OF PEOPLE WALKING ON COMMERCIAL STREET VARIOUS OF STORES ANNOUNCING CHRISTMAS PROMOTIONS TEACHER, AIDA SEGOT, SHOPPING IN A LINGERIE STORE (SOUNDBITE) (Spanish) TEACHER, AIDA SEGOT, SAYING: "I don't know much about inflation, but I know that when I get my salary, it's gone in two days. The month used to end on the 20th; now it ends on the 12th." CROWDED COMMERCIAL STREET VARIOUS OF PROMOTIONS AND PRICE OFFERS ON STORE WINDOWS (SOUNDBITE) (Spanish) MERCHANT, DOLORES SAGASTA, SAYING: "I think it's important to understand that this is the path. And while some are struggling, as long as we stay on this path, it's going well. We need to give him (REFERRING TO: Argentine president, Javier Milei) more time; it's only been a year, and we need to give him more time." VARIOUS OF PEOPLE AT A LOCAL FRUIT AND VEGETABLE MARKET FAIR PRICES OF GOODS CUSTOMER PAYING GOODS
- Embargoed: 25th December 2024 12:11
- Keywords: Argentina Inflation Milei Poverty Purchasing power
- Location: SAN FERNANDO AND BUENOS AIRES, ARGENTINA
- City: SAN FERNANDO AND BUENOS AIRES, ARGENTINA
- Country: Argentina
- Topics: South America / Central America,Society/Social Issues
- Reuters ID: LVA001627010122024RP1
- Aspect Ratio: 16:9
- Story Text:Argentina's monthly inflation is likely to have remained under 3% in November, near its lowest level of the year but slightly up from the month before, underscoring the challenge for libertarian president Javier Milei to rein in prices.
In Buenos Aires, economic sentiment pointed towards cautious optimism as residents offered their views on the government's policies. Aram Boyaciyan, a textile merchant, suggested that the economy seemed to have stabilized, indicating that the worst might be over for the middle and lower-middle classes. Conversely, others, such as teacher Aida Segot, reported ongoing struggles with inflation, which devalues her salary.
President Milei's government has cut subsidies on public services and increased public sector layoffs. While inflation remains high by global standards, contributing to a significant decrease in purchasing power, recent data suggest that Milei's policies are beginning to bear fruit.
Meanwhile, the Argentine Catholic University (UCA) reported that the poverty rate reached 53% during the first half of 2024, marking the highest rate in 30 years.
(Production: Horacio Soria, Miguel Lo Bianco, Hugo Monnet) - Copyright Holder: REUTERS
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