One hundred dollars are equivalent to almost eighty thousand Argentine pesos in the black market exchange. One of the most direct consequences of peso devaluation is inflation. When the value of the peso decreases in relation to the dollar, products become more expensive, leading to a widespread increase in prices. This affects consumers, as their purchasing power diminishes.
The building of the Ministry of Economy in Buenos Aires is a key institution in making economic and financial decisions for Argentina. Its role is vital for guiding the country's economy and addressing changing economic challenges. Buenos Aires, August 2023.
A weekly purchase of basic products in a supermarket costs almost 100 dollars. Currently, the basic salary in Argentina is around 150 dollars approximately. It's impossible to sustain the basic needs of a family with just one salary. Rosario, August 2023.
Claudio Caratzu has a small market in the city. Day after day, he is forced to increase prices due to inflation. In Argentina, economic uncertainty is having significant effects on the everyday lives of Argentinians. Buenos Aires, August 2023.
Street vendors are the alternative for Argentinians who choose to do their shopping, avoiding paying the high prices that large markets have. Buenos Aires, August 2023.
The famous Argentine barbecue is sold in dollars. After the national primary elections and the subsequent devaluation, some bars and markets in the city are offering their products or services directly in dollars. Buenos Aires, August 2023.
Retiro terminal is filled with people traveling for a long weekend vacation in the country. Despite the price increases and currency devaluation, Argentinians prefer to spend their money in pesos rather than save it, as this way they avoid further loss of value. Buenos Aires, August 2023.
At times, empty restaurants reflect the uncertainty and fear of Argentinians about the future of the currency. The devaluation of the peso can pose challenges for the restaurant industry in Buenos Aires and across the nation. Restaurant owners must adapt to economic fluctuations and find creative ways to sustain their businesses in an ever-changing environment. Buenos Aires, August 2023.
