What does the currency of your salary have to do with the price of a Panettone?
If 25 bucks is the going rate for Panettone (I have no idea), then in dollar terms the price here (allegedly ~200 ARS) is lower using even the official rate.
The issue is that most Argentines are earning pesos, not dollars. AR$200 is an awful lot of money to spend on a traditional (non luxury item) dessert for most Argentines.
Let's think about in a simple day-to-day living type of comparison.
In NYC, a round trip on the subway costs US$5. This is 1/5 the cost of our doorstop/dessert in question.
In BA, a round trip on the subte costs AR$10. This is 1/20 the cost of our doorstop/dessert.
That panettone takes a much smaller bite out of my budget here in the US than it does of my suegros. This is why I feel that the panettone is a bit too expensive in BA
Compare the price to a regular cup of coffee (not a Starbucks, but the on the street coffee), a slice of pizza, or anything similar. I'm heading down to BA tomorrow, and my Argentine husband (who travels back more often than I do) has warned me that a lot has changed, price-wise, in the last year. His family, middle class, all earning in pesos, tells us this all the time.