Argentina ( Highest inflation in the World)

[perry]

I read an article in Clarin today page 22 that states that Argentina has the highest inflation in the world in dollar terms at a whopping 19% year by year . Venezuela actually has less inflation than Argentina in dollar terms at just 11.1 per cent annually . For me personally I find the cost of living in Buenos Aires to be sky high and need to work many more hours to accomodate these expenses .

The same article states that most common food items in dollars are dearer than than in the most expensive neighbourhoods of London . I have to say that I agree with this assesment as prices of basic food items are now outrageous and I feel great pity for the working class people who need to make ends meet.

 

[fred mertz]

I think that the inflation rate in my country is MUCHO higher !!

Fondly,
Robert Mugabe

 

[Caz]

lol Pure gold... Poor old Rhodesia - she had problems - but Zimbabwe...

 

[joelie]

The same article states that most common food items in dollars are dearer than than in the most expensive neighbourhoods of London .

I think in this case whoever wrote that article wants to feel sorry for themself. I've lived in London (and around some of the expensive neighbourhoods) and they food there is NOT cheaper than the common food items here (in dollar terms).

You CAN get some food very cheap there, but it's often crap 'food'. But you don't really want to eat tins of Sainsbury own brand baked beans three times a day. (Hhm, hang on, I actually don't think baked beans are crap - I love them, but they ARE super cheap - not much more than 9p a can last time I was there.)

I do feel that some people have it hard here, but it bugs me the people that DO have their basics sorted (plus some) usually whinge the loudest about how hard/unfair life is.

Oh, I can't afford to eat at restaurants/own a car/have an iphone/have new clothes regularly/have a t.v./etc.. Oh boo hoo!

I might just be in reactionary mode, but I think that most people who can afford to live in Buenos Aires are not the real poor. There is so much wealth and development in this country, but people can't see it because they are too busy thinking about what they still want. Not saying there isn't room for improvement but if people got busy working on the needs rather than the wants it would happen a lot quicker. People take things like sealed roads, street lighting, running water, access to education, an ambulance service, public hospitals, very much for granted. I have PLENTY of time to listen to those who really are disenfranchised and have genuine needs, but there are those who say they are advocating for the poor, when usually they are just playing political games to try and get something better for themselves.

End of rant.

 

[perry]

I think in this case whoever wrote that article wants to feel sorry for themself. I've lived in London (and around some of the expensive neighbourhoods) and they food there is NOT cheaper than the common food items here (in dollar terms).

You CAN get some food very cheap there, but it's often crap 'food'. But you don't really want to eat tins of Sainsbury own brand baked beans three times a day. (Hhm, hang on, I actually don't think baked beans are crap - I love them, but they ARE super cheap - not much more than 9p a can last time I was there.)

I do feel that some people have it hard here, but it bugs me the people that DO have their basics sorted (plus some) usually whinge the loudest about how hard/unfair life is.

Oh, I can't afford to eat at restaurants/own a car/have an iphone/have new clothes regularly/have a t.v./etc.. Oh boo hoo!

I might just be in reactionary mode, but I think that most people who can afford to live in Buenos Aires are not the real poor. There is so much wealth and development in this country, but people can't see it because they are too busy thinking about what they still want. Not saying there isn't room for improvement but if people got busy working on the needs rather than the wants it would happen a lot quicker. People take things like sealed roads, street lighting, running water, access to education, an ambulance service, public hospitals, very much for granted. I have PLENTY of time to listen to those who really are disenfranchised and have genuine needs, but there are those who say they are advocating for the poor, when usually they are just playing political games to try and get something better for themselves.

End of rant.

There have been numerous studies that show that the argentinian working class has to work more hours than ever to sustain the high costs of foods and accomodation . The positive is that there is close to full employment at the moment but the price that many have to pay working 6 days a week with two jobs seems very high to me.

Of course Argentina has very wealthy people and in most cases they are richer than their european counterparts and for them the last 10 years under Peronism has made them richer than ever before. Saying that there is a huge difference in class systems in Buenos Aires and I believe this will be more pronounced in the coming years .

My beef is that in a country that is one of the breadbaskets of the world that food should be so expensive. This to me is an economic crime against the people and should be addressed accordingly .

 

[davonz]

The same article states that most common food items in dollars are dearer than than in the most expensive neighbourhoods of London . I have to say that I agree with this assesment as prices of basic food items are now outrageous and I feel great pity for the working class people who need to make ends meet.

The last couple of years while i have been in europe i have found it cheaper to live (like a local) than argentina - well switzerland, belgium and london anyways.. The exception being transport and restaurant food (most of the time anyways)..

I think that the inflation rate in my country is MUCHO higher !!

Isnt inflation under control there now since the US$ was allowed to be used freely.. When i was there in 2005/2006 it was crazy, go to supermarket in the morning and it was say Z$1 for a bottle of water, the next morning it was $1.20.. The official exchange rate was about Z$120,000 to US$1, but on black market i was getting Z$400,000.. Fond memories - only time i could afford to wipe my bum with money.. infact was cheaper than buying loo paper..

 

[Napoleon]

I think that the inflation rate in my country is MUCHO higher !!

Fondly,
Robert Mugabe

Isnt inflation under control there now since the US$ was allowed to be used freely..

YES


And as for the inflation being 19%/annual, that's in US dollars. But since the peso keeps falling, local inflation is more like 25%.

The only thing that you can really say to this is:

We're #1!!
We're #1!!
We're #1!!
We're #1!!
We're #1!!
We're #1!!
We're #1!!
We're #1!!
We're #1!!

 

[jb5]

Locally produced fresh foods are much cheaper than similar in the US or Europe in my experience. Vegetables and beef for example cost much less. If people stop buying all the processed and imported foods they could eat for relatively little.

What I don't understand is why food does not travel within the country. Chicken is half the price in Mendoza that it is in Baires because much is produced locally.

While I find much is about the same price as in the US and Europe, especially in the grocery store, I find the cost of living as a whole much cheaper here than in either of those places. Much cheaper rent, restaurant food, services.

Not sure what happens if this inflation keeps going though, a serious devaluation of the Peso at the very least is my guess.

 

[Lucas]

Isn't the US the one who are exporting inflation to third world countries?

“Federal Reserve policy cannot be primarily responsible” for rising food costs, Bernanke told the National Press Club recently. “Clearly what’s happening is not a dollar effect. What’s happening is a growth effect, primarily in emerging markets, that is driving up prices.”

No one’s disputing that demand growth in China and India is pushing up food prices, but clearly cheaper dollars are playing a role by exporting inflation around the world. Not only is affecting the price of food, energy and raw materials, it will likely come back to spike prices here in the U.S

How to export inflation

Inflation, US Number One Export

The gondolas owners

 

[joelie]

I think I was a bit grouchy before. Sorry about that.

However just wanted to add that it is cheaper to buy meat here than in some of the African countries I have lived in! Same with tomatoes, potatoes, carrots, grains, bread and a bunch of other stuff. Not to mention that there is a great range of fresh produce available here.

I actually buy processed food very little (with a few exceptions like cheese, olives,tinned fish and some herbs and spices). But I am eating very nicely on between US$3-5 a day for my food expenses. (Although I don't eat much meat, which would probably push it higher if I bought red meat more often).