Coffee and cake prices

[Vossos]

I would be really interested to hear experiences from those here that have experienced a sharp peso deterioration materialise in real time. I’ve heard that Argentina was expensive at some point in the early 2000s before the peso rapidly deteriorated but I’m curious how that played out in the past on the ground so to speak

 

[chris]

I would be really interested to hear experiences from those here that have experienced a sharp peso deterioration materialise in real time. I’ve heard that Argentina was expensive at some point in the early 2000s before the peso rapidly deteriorated but I’m curious how that played out in the past on the ground so to speak

It was relatively expensive in the Menem era but nothing like now. A cafecito, for example, was usually 1.50 pesos/dollars. Property was very cheap to buy; rentals reasonable.

 

[Che1990]

I would be really interested to hear experiences from those here that have experienced a sharp peso deterioration materialise in real time. I’ve heard that Argentina was expensive at some point in the early 2000s before the peso rapidly deteriorated but I’m curious how that played out in the past on the ground so to speak

I was here when it devalued in 2018 and all throughout the pandemic. Inflation rapidly picks up, but often outpaced by devaluation. Things get cheap and stay cheap.

I feel this year it had a big impact on tourism.

At Xmas 2019, just after the “Macrisis” (where the pesos went from $28 pesos to $66 pesos in the course of 4 months) I went to Villa General Belgrano for the week and it was heaving with people. Traffic, impossible to park a car, queues for restaurants, everywhere fully booked.

I went this Christmas just gone, 2024, and it was dead. It surprised me as my memories of this town were it being packed with people.

This year, it’s much cheaper to go to Brazil. Not the case when the pesos deteriorates.

Another things I noticed is crazy shrinkflation in restaurants and bars.

Politics also heats up, and nearly always favours the opposition.

 

[Lanick]

I was here when it devalued in 2018 and all throughout the pandemic. Inflation rapidly picks up, but often outpaced by devaluation. Things get cheap and stay cheap.

I feel this year it had a big impact on tourism.

At Xmas 2019, just after the “Macrisis” (where the pesos went from $28 pesos to $66 pesos in the course of 4 months) I went to Villa General Belgrano for the week and it was heaving with people. Traffic, impossible to park a car, queues for restaurants, everywhere fully booked.

I went this Christmas just gone, 2024, and it was dead. It surprised me as my memories of this town were it being packed with people.

This year, it’s much cheaper to go to Brazil. Not the case when the pesos deteriorates.

Another things I noticed is crazy shrinkflation in restaurants and bars.

Politics also heats up, and nearly always favours the opposition.

there are a lot of wealthy people in Argentina. Old money. Who have anlready established themselves with properties abroad and cash stashed under the mattress ( hence a lot of flats on the 6th, 7th floor with iron railings. To protect what’s under the mattress!) east of Ave. Cordoba might have more millionaires per block than Madrid or Milan. These people are enough to fill up certain places heaving. But on the other hand there are places that you wouldn’t imagine existed in terms of poverty.

 

[FrankPintor]

I was here when it devalued in 2018 and all throughout the pandemic. Inflation rapidly picks up, but often outpaced by devaluation. Things get cheap and stay cheap.

I feel this year it had a big impact on tourism.

At Xmas 2019, just after the “Macrisis” (where the pesos went from $28 pesos to $66 pesos in the course of 4 months) I went to Villa General Belgrano for the week and it was heaving with people. Traffic, impossible to park a car, queues for restaurants, everywhere fully booked.

I went this Christmas just gone, 2024, and it was dead. It surprised me as my memories of this town were it being packed with people.

This year, it’s much cheaper to go to Brazil. Not the case when the pesos deteriorates.

Another things I noticed is crazy shrinkflation in restaurants and bars.

Politics also heats up, and nearly always favours the opposition.

I came here in late 2017, and it was very expensive. I wish I had kept some of the supermarket receipts, but every time I went to the local "chino" I parted with USD 50. I told my agency I couldn't afford to stay here; they eventually sent me an advance, and then, as you say, the devaluation started.

Our nice one-bedroom duplex Airbnb in Recoleta, a block from Av. Cordoba, was USD 2500 per month.

We enjoyed the low prices while they lasted, we can't really complain (though we do, of course).

I'm surprised about VGB, we were there in May last year, and it was absolutely heaving.

 

[mageesa]

It was relatively expensive in the Menem era but nothing like now. A cafecito, for example, was usually 1.50 pesos/dollars. Property was very cheap to buy; rentals reasonable.

What's weird is I was here briefly in 1999, probably right before the end of Menem's term(?) And I specifically remember paying $5USD for a lomo sandwich, which I thought was a real bargain, because... steak! Other prices struck me as slightly below 'poor person' NYC prices (my only metric, and the most useful one; because there's no upper limit to 'rich person' pricing in either place).

I don't remember thinking, "I need to indulge myself while I can, because everything's so cheap!", like I did a year ago; but I didn't think things were particularly expensive either.

 

[chris]

What's weird is I was here briefly in 1999, probably right before the end of Menem's term(?) And I specifically remember paying $5USD for a lomo sandwich, which I thought was a real bargain, because... steak! Other prices struck me as slightly below 'poor person' NYC prices (my only metric, and the most useful one; because there's no upper limit to 'rich person' pricing in either place).

I don't remember thinking, "I need to indulge myself while I can, because everything's so cheap!", like I did a year ago; but I didn't think things were particularly expensive either.

Restaurants aren't the only measure of course. There are a few things that I still remember -- a pechuga de pollo was almost always $5 in a restaurant. Coffee $1.50 except in five star hotels or Patio Bullrich where it was $2.50. A bottle of Etchart Privado at Munich in Recoleta was $5. Photocopies were 5 cents. Temporary rentals were unheard of except in Apart Hotels. You needed a guarantor. Rentals were for two years. Prices were reasonable but if you didn't have a sponsor it was almost impossible to rent. Prices were generally predictable with minimal inflation. There were few expats, mostly high level executives brought out by foreign companies. They usually lived in Barrio Norte in big houses paid for by companies.

 

[Redpossum]

Restaurants aren't the only measure of course. There are a few things that I still remember -- a pechuga de pollo was almost always $5 in a restaurant. Coffee $1.50 except in five star hotels or Patio Bullrich where it was $2.50. A bottle of Etchart Privado at Munich in Recoleta was $5. Photocopies were 5 cents. Temporary rentals were unheard of except in Apart Hotels. You needed a guarantor. Rentals were for two years. Prices were reasonable but if you didn't have a sponsor it was almost impossible to rent. Prices were generally predictable with minimal inflation. There were few expats, mostly high level executives brought out by foreign companies. They usually lived in Barrio Norte in big houses paid for by companies.

Thanks for sharing. That's some interesting insight into the socioeconomic changes of the last 30 years.

 

[perry]

Those who support the current government say that there is little inflation now but can they expain how come prices went up three times in us dollars for many products in just one year . This is 300 percent inflation in hard currency never ever happened before in Argentina . The most inflation in us currency was in the presidency of Macri and at most it was 40 percent in one year .

Continuing on the coffee thread . Coffee is still going up ! Today at Coffeetown in a mercado with just a few wooden tables mainly take away a flatwhite coffee is 6500 pesos or close to US$ 6 . In Australia the birthplace of flatwhite its price is never more than US$ 4 and that is with the highest minimum wage on the planet and baristas earning more than anywhere in the world .

Friendly Finance: Coffee Index

Coffee prices in different parts of Australia as of May 2024.

friendlyfinance.com.au

 

[Redpossum]

Those who support the current government say that there is little inflation now but can they expain how come prices went up three times in us dollars for many products in just one year . This is 300 percent inflation in hard currency never ever happened before in Argentina . The most inflation in us currency was in the presidency of Macri and at most it was 40 percent in one year .

Continuing on the coffee thread . Coffee is still going up ! Today at Coffeetown in a mercado with just a few wooden tables mainly take away a flatwhite coffee is 6500 pesos or close to US$ 6 . In Australia the birthplace of flatwhite its price is never more than US$ 4 and that is with the highest minimum wage on the planet and baristas earning more than anywhere in the world .

Friendly Finance: Coffee Index

Coffee prices in different parts of Australia as of May 2024.

friendlyfinance.com.au

It's a messed up situation, bro. It really is. I'm close to reaching the point of absolute despair, but all I know how to do is just hang on for dear life and hope something gets better.