'More and more hunger': Argentina's soup kitchens on brink of collapse from high inflation
'More and more hunger': Argentina's soup kitchens on brink of collapse from high inflation
A week ago, 20 kilograms (44 pounds) of pasta was enough to feed the dozens of families who visit the Sal de la Tierra soup kitchen in Villa Fiorito, a poor Buenos Aires suburb beset by the economic crisis ravaging Argentina. But with monthly inflation topping 20%, the number of hungry residents has soared. This week, the soup kitchen, which relies on private contributions and volunteer work, had to prepare 30 kg of pasta.
Hungry people are angry people and angry people do bad things. I'm not so sure Milei is going to be president, or possibly alive, by the time inflation starts coming down.
If Argentinians really wanted a better solution, they would have come up with one on the last 30 years.
But they didin't.
Thus Milei was elected as the "emergency plan" to fight back against the inflation and now they're living the consequences of it.
Not the consequences of electing Milei, but rather taking so long to realize that their country's economy was totally out of balance.
Argentina's statistics agency on Wednesday published annual inflation of 254% as January inflation edged down to 20.6% from 25.5% a month earlier, just below forecasts of 257% and 21% according to analysts polled by Reuters.
that part is really confusing - it's down 20.6% to 254% from 257%?
Just below the forecast
Argentina's statistics agency on Wednesday published annual inflation of 254% as January inflation edged down to 20.6% from 25.5% a month earlier, just below forecasts of 257% and 21% according to analysts polled by Reuters.
Actuals:
2024 Annual Inflation:254%Jan ‘24 Monthly Inflation:20.6%Dec ‘23 Monthly Inflation:25.5%Predictions:
2024 Annual Inflation:257%, est.Jan ‘24 Monthly Inflation:21%, est.Assuming Argentina government data is accurate,
1.) inflation is stabilizing (decreasing) over time
2.) inflation is beating analyst forecasts
Tragically high inflation but at least not going in the wrong direction at the moment.
It was 254% and inflation dropped from 25.5% the month prior to 20.6%. inflation had been forecasted to hit 21% that month and 257% for the year is my interpretation of what you posted.
Inflation is a measure of growth, when they say inflation is down they mean it's growing less.
254% was the actual annual inflation.
257% was the predicted annual inflation, 21% was the predicted monthly. There was no rolling annual amount given for the month prior only the monthly rate of 25.5%.