The inflation rate has gone above the 100% mark in Argentina and that means prices go up quickly. One business in the ice cream industry has said they've seen prices double in a month. That makes things more difficult when setting prices and calculating services to do business etc, it isn't fun for customers either to continue to see those prices going up.
Most people have never lived in such an environment to experience this sort of aggressive inflation that's above 100+ but there are a few regions clearly doing worse than others when tackling these economic conditions.
The cost of living and state of the economy is going to be a huge voting issue for millions of people.
One political candidate in Argentina that has seen some popularity lately for offering a different economic perspective on things, among other views, has gathered a lot of surprising support. Milei has been painted as a libertarian and also dubbed far right by various media outlets when those two positions arguably don't really seem to mesh well together. When things get this terrible with the economy it's only fair that many will call out for a solution, that they might get tired of the same old empty promises, the repeated song and dance of just the same. Time for something new?
Will they be able to vote their way to seeing some more economic stability? How long might that take? How many will suffer in the meantime? How have things gotten so bad for business and for the people? Will things get much worse? With this sort of eroding for the standard of living that easily increses the risk of more people falling into poverty and going hungry. People who are seeing their business costs and costs of food and other living goods going up quickly then you cannot blame them for thinking they should be concerned about it.
Pics:
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This is not financial advice.
Sources:
https://www.ft.com/content/088d3368-bb8b-4ff3-9df7-a7680d4d81b2
https://www.bloomberg.com/news/articles/2023-08-15/argentina-inflation-cooled-to-113-before-election-price-surge
https://www.bloomberg.com/news/articles/2023-08-17/milei-promises-argentina-can-be-saved-with-libertarian-economics
https://www.ft.com/content/63313a6c-5fb3-4972-9201-93f46c3d65d2