this post was submitted on 26 Dec 2023
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Under Argentina’s New President, Fuel Is Up 60%, and Diaper Prices Have Doubled (www.nytimes.com)
submitted 2 years ago by catfish@programming.dev to c/news@lemmy.world
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nytimes.com Under Argentina’s New President, Fuel Is Up 60%, and Diaper Prices Have Doubled Daniel Politi, Lucía Cholakian Herrera ~3 minutes

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Javier Milei warned that things would get worse before they got better. Now Argentines are living it. An aerial view of crowded city square. Protesters are holding large banners. Protesters on Wednesday in Plaza de Mayo in Buenos Aires during the first demonstration against the new government of President Javier Milei.Credit...Luis Robayo/Agence France-Presse — Getty Images An aerial view of crowded city square. Protesters are holding large banners.

Daniel Politi and Lucía Cholakian Herrera

Reporting from Buenos Aires

Published Dec. 23, 2023Updated Dec. 24, 2023

Over the past two weeks, the owner of a hip wine bar in Buenos Aires saw the price of beef soar 73 percent, while the zucchini he puts in salads rose 140 percent. An Uber driver paid 60 percent more to fill her tank. And a father said he spent twice as much on diapers for his toddler than he did last month.

In Argentina, a country synonymous with galloping inflation, people are used to paying more for just about everything. But under the country’s new president, life is quickly becoming even more painful.

When Javier Milei was elected president on Nov. 19, the country was already suffering under the world’s third-highest rate of inflation, with prices up 160 percent from a year before.

But since Mr. Milei took office on Dec. 10 and quickly devalued the Argentine currency, prices have soared at such a dizzying pace that many in this South American country of 46 million are running new calculations on how their businesses or households can survive the far deeper economic crunch the country is already enduring.

“Since Milei won, we’ve been worried all the time,” said Fernando González Galli, 36, a high school philosophy teacher in Buenos Aires.

Mr. Galli has been trying to cut back without making life worse for his two daughters, who are 6 years and 18 months old, including switching to a cheaper brand of diapers and racing to spend his Argentine pesos before their value disintegrates even further. “As soon as I get my paycheck, I go buy everything I can,” he said.

Subscribe to The Times to read as many articles as you like.

A version of this article appears in print on Dec. 24, 2023, Section A, Page 6 of the New York edition with the headline: Under New President, Argentines Walloped by Eye-Watering Inflation. Order Reprints | Today’s Paper | Subscribe

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[–] partial_accumen@lemmy.world 72 points 2 years ago* (last edited 2 years ago) (2 children)

Mr. Galli has been trying to cut back without making life worse for his two daughters, who are 6 years and 18 months old, including switching to a cheaper brand of diapers and racing to spend his Argentine pesos before their value disintegrates even further. “As soon as I get my paycheck, I go buy everything I can,” he said.

During the hyperinflation times in Zimbabwe, workers were paid twice a day. Wives would come to their husband's work and collect the mornings wages at lunch time and spend it immediately on food and necessities. Waiting to the end of the work day would mean an steep decline in buying power meaning it would buy less.

I truly hope this isn't the future for the people of Argentina.

[–] rhythmisaprancer@kbin.social 3 points 2 years ago

Omg I hope this ends better than that 😶 both peoples found themselves in such terrible challenges.

[–] Wrench@lemmy.world 3 points 2 years ago (1 children)

Do would they renegotiate their pay rate twice a day too? Otherwise their hourly after work would be worth significantly less

[–] partial_accumen@lemmy.world 20 points 2 years ago

The hyperinflation affected employers too. Where do you think the employers would get extra pay to overcome that inflation? What is the worker's other choice? Quit and work somewhere else. Where pays better? Everyone was in the same situation.

[–] furzegulo@lemmy.dbzer0.com 35 points 2 years ago (3 children)

who would've thunk that a fascist maniac ain't an economic mastermind

[–] platypus_plumba@lemmy.world 6 points 2 years ago

I think he is a fascist but I also think you shouldn't judge him on his first days in office for shit like this.

He was given a pretty awful situation to deal with. It would be a surprise if he actually fixes it.

[–] Lanusensei87@lemmy.world -4 points 2 years ago* (last edited 2 years ago)

It was going to happen eventually, our inflation is more than 100% year over year and several goods and services have not been amended in years, the prices are simply being allowed to catch up to their real value.

Make no mistake, every politician here understands this is what needs to be done to stop inflation, Peronists/Kirchnerists simply let the right do it so they don't have to do it themselves.

[–] YoBuckStopsHere@lemmy.world 27 points 2 years ago (2 children)

He will blame the British

[–] jeffw@lemmy.world 24 points 2 years ago

What else is he supposed to do? Be mature and accept the consequences of his rhetoric???

[–] steeznson@lemmy.world 21 points 2 years ago

I had dinner with some friends the other night and the new partner of one of them is Argentinian. We briefly discussed politics and it turned out he was quite positive about Milei. We didn't linger on it because it would have ruined the evening but he was basically saying that things were so bad at home that he viewed any change as positive.

Being from the UK it reminded me of talking to Scottish independence and Brexit supporters. It's a shame that so many voters around the world feel so hopeless.

[–] hark@lemmy.world 16 points 2 years ago

I'd shit myself over the fuel price increase but I don't want to soil my also expensive diaper.

[–] rockSlayer@lemmy.world 8 points 2 years ago (1 children)

Yea, that happens when you dismantle your country's fed and then adopt the money (and therefore fed) of the country that helped create a brutal fascist dictatorship

[–] Ghyste@sh.itjust.works 6 points 2 years ago

This shitbag is going to drain the last dregs of anything valuable from the country, destroy any chance of recovery by dividing the country with extremist social policies, then duck and run with his ill-gotten fortune. The cost of the bullet that this asshole deserves isn't equal to the value of his life.

[–] ThrowawayPermanente@sh.itjust.works 5 points 2 years ago

All he did was bring the official rates in line with the real forex rates.

[–] Pistcow@lemm.ee 2 points 2 years ago

Fuck yo kids

[–] MrSilkworm@lemmy.world 2 points 2 years ago

He's an extreme right winger and libertarian. His views are racist and show no tolerance.

He warned people that pain would come, before he was even elected. But he also promised better days, that I doubt they will come.

I wish the best for Argentina

[–] wahming@monyet.cc 0 points 2 years ago

He's a fascist, but blaming him for the economy which has been in freefall for decades when he just took power last month is a bit of a stretch.

[–] Chickens@lemmy.world 0 points 2 years ago

America: "First Time?"

[–] green_square@yiffit.net 0 points 2 years ago (1 children)

Presidents don’t control the gas prices, not here at least.

You know what they do control? Social welfare, which he doubled because he knew things would get worse before they could get better.

[–] SaltySalamander@kbin.social 1 points 2 years ago* (last edited 2 years ago) (1 children)

The presidents absolutely control the price of gas when they unilaterally decide to remove the subsidies for that gas, instantly raising the price on that gas.

[–] green_square@yiffit.net 0 points 2 years ago

Then that was not the real price of gas and was being paid by everyone else, including the poor, not through tax money(as they should) but by having an over 10% monthly inflation.

[–] Zrybew@lemmy.world 0 points 2 years ago

So, inflation is down