Argentina’s Inflation will reach 60% this year. Locals say you’re lucky if you have two to three jobs

A vendor weighs produce in a market as inflation in Argentina hits its highest level in years, causing food prices to spiral, in Buenos Aires, Argentina April 12, 2022. REUTERS/Mariana Nedelcu

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Argentina inflation surges to decades-high in March, sapping spending power
  • Argentina’s monthly inflation rate soared to 6.7% in March, the government said on Wednesday, far above forecasts and the highest level in two decades as spiraling food and fuel prices dent the value of salaries and savings.
  • Argentina has been battling with high inflation for years with little success. That has been worsened as global commodities prices have climbed over the last year, exacerbated recently by the war in Ukraine.
  • Experts predict Argentina’s inflation will reach nearly 60% this year. That takes a steep toll on Argentines, almost 40% of whom already live in poverty even as a rebound in growth from the coronavirus pandemic has helped reduce that number.
  • “We have no choice. If we are lucky, we can have two or even three jobs. And not even then do we make ends meet because one day products have a certain price and the next day it’s a different one. That really kills people throughout the country.”

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