In Argentina, the enormous inflation does not stop. According to the National Statistics Institute (Indec), consumer prices rose 142.7 percent year-on-year in October. In September the percentage was 138.3 percent. The country will elect a new president next weekend.
Compared to the previous month, prices rose by 8.3 percent in October. The month-on-month increase slowed; in September this was still 12.7 percent. Since the beginning of the year, inflation has cumulatively reached 120 percent.
“People don’t even complain anymore.”
Inflation has reached a new high with the October figure. However, it has been consistently at least in the double digits for more than a decade. “People don’t even complain like they used to. They got used to it,” said Camila Fuentes, a 27-year-old saleswoman at a pharmacy in central Buenos Aires.
Second election Sunday
Nevertheless, inflation and the depreciation of the peso are central to the election campaign. On Sunday, ultra-liberal populist Javier Milei will go into the second election against the economy minister of the current centre-left government, Sergio Massa.
In the first round of voting, 51-year-old Massa came first with more than 36 percent of the votes. Milei, who describes himself as an ‘anarcho-capitalist’ and wants to abolish the central bank and introduce the US dollar as a means of payment, came to 30 percent
Source: Krone
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