DStv Channel 403 Friday, 01 November 2024

Argentine shopkeepers struggle to keep pace with soaring prices

BUENOS AIRES - Annual inflation in Argentina is already at 143 percent, and prices have risen further after the outgoing government this week eased price controls on basic goods -- which Milei is expected to scrap.

On shop shelves, some products have up to four labels superimposed, testifying to the dizzying inflation. 

"These are crazy days," said Fernando Savore, vice-president of the Buenos Aires grocers' federation. 

"Although we already changed prices last week. We saw increases of around 25 to 30 percent at the wholesalers" since the election.

He said pasta had gone up 50 percent and cleaning products 30 percent.

In beef-mad Argentina, sales of the most expensive cuts of meat have declined in favour of lower-quality cuts or cheaper pork chops. 

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