the american newspaper New York Times published an article about the increase in the cost of living in that country and titled it: “Do you think 9 percent inflation is bad? Try 90%“, in clear allusion to the REM report of the Central Bank of the Argentine Republic that marks that percentage of inflation in the interannual to July 2022.
USA it is going through an inflationary rise rarely seen in its history; the cost of living reached 9.1% year-on-year last month, the highest rate in four decades, in a jump driven mainly by the rise in fuel prices.
Thats why he New York Times he sought to calm the fear of Americans by comparing that reality with the pockets of Argentines.
The newspaper indicated that “many economists expect inflation (in Argentina), which is already 64% year-on-year, to reach 90% in December.”
The report even speaks of “one of the country’s worst economic crises in decades, and that is already saying a lot in the case of Argentina.”
The american morningone of the most read in the world, compares the hyperinflations unleashed in the last 50 years and talks about the interest of Argentines in buying Dollars.
He explains that in Argentina people “hide dollars in their underwear to go do some important transaction” and highlights the case of a Venezuelan immigrant who wonders: “Have I emigrated to the right country?”
Despite that, the new york newspaper highlights that Argentina is a mixture of resilience, adaptation and strength.
“Argentina shows that people will find a way to adapt to years of high inflation, living in an economy that is impossible to unravel in almost any other part of the world,” he said in his article.