Argentina’s $3.50 Coffee: Inflation Tamed, But Prices Soar

Argentina’s $3.50 Coffee: Inflation Tamed, But Prices Soar

Argentina, once synonymous with runaway inflation, now holds the title of the most expensive country in Latin America. A cup of coffee in Buenos Aires costs $3.50, far above the $1.50 in Bogotá or São Paulo and $2.50 in Mexico City or Santiago. This stark price disparity reflects the economic policies of President Javier Milei, […]

The president of Argentina, Javier Milei, used to repeat towards the end of 2023 that the peso, the national currency, “is neither worth nor excrement”. He was campaigning for the presidency and still proclaimed the dollarization and closure of the Central Bank as the only possible remedy against inflation, which at that time flew above 10% monthly. A little more than a year later, Milei reduced inflation below 3% monthly, but did not dollarize,…

Writing Open Channel “We bring down 21 points poverty, we bring out almost 10 million of poverty; low inflation, real wages, pensions and people are doing much better.” So Javier Milei perceives his economic management, or at least that is what he expressed this Monday morning on the screen of the official A24. From now on, it is a vision that does not share much of the country and would provoke some modesty even in the most fanatical of the li…