Argentina’s annual inflation rate exceeded 100 percent in February, for the first time since the inflation crisis of 1991.
Data from the Argentine Statistical Agency revealed that the country’s annual inflation rate reached 102 percent last February, compared to 98.8 percent in January, after the monthly rate rose to 6.6 percent during the second month of this year.
The repercussions of high inflation rates were tangible in the markets, shops and homes of Argentines, who were affected by the large increases in the prices of basic materials, according to Archyde.com.
“There is no money, nothing. People are destitute. How will they be able to buy their things?” says Irene DeVita, 74, as she checks prices for groceries in a market on the outskirts of Buenos Aires.
With high inflation rates, prices change almost weekly, the retired Argentine woman explains: “I wanted to buy 3 oranges, two lemons, two bananas, and half a kilo of tomatoes, but after I discovered that the price was 650 pesos.” [3.22 دولارا] I took everything out and left only the tomatoes because I didn’t have enough money.”
And the measures approved by the government failed to curb the high rates of inflation and with it the large rise in prices, which weakened the purchasing power of Argentines and affected the growth of the local economy, coinciding with the political problems that the country knows.
Inflation remains the main topic of discussion in the streets and conversations of Argentines, and the current situation arouses their anger and frustration in themselves, as salaries do not often equal the costs of purchasing their needs of commodities.
For her part, Patricia Quiroga, 50, says, “It is impossible to bear the current inflation rates.”
“I’m sick and tired of all this of politicians fighting each other while people are dying of hunger,” Quiroga told Archyde.com, while waiting for her turn to shop in front of a shop. “This can’t go on anymore.”