Argentina faces economic crisis as annual inflation reaches 104%

Argentina is in the midst of its worst economic crisis in more than three decades with the prices of goods doubling since this time last year. NBC’s Guad Venegas has more as the country’s presidential elections are coming up later in the year.

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[paulteske]

Argentina is an example of a country that could have been a regional powerhouse, but somehow did the exact opposite of just about everything possible.

[elvist]

You know a country is in bad shape when none wants to run for president in it. So sorry for our argentinian brothers, hang in there. God bless.

[manuelenrique]

As an Argentinian, the phrase 'unaffordable for its whole population' really hurts.

[rominaraquelmartinez]

I'm argentinian and I can say that this is true! Before my dad retired from his job he earned a good salary but now he spends his money only in food because every day we have new prices, including food prices in supermarkets. I can see that my dad is really stressed and I feel as him too.😢

[mischa]

4-9% where I am is already painful. 104% is out of this world.

[Chatterbox-]

My wife is from Venezuela. She personally knows how hyperinflation can quickly destroy a country. I pray that Argentina doesn’t sink into ruin like Venezuela

[elvismark]

Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.

[renanrosa]

I remember hearing that Argentina is in crisis since I was a kid. Now I'm am 31.

[Luis-fkfj]

Doesn’t matter all they care is that they won the World Cup.

[MrDredd]

Argentina has been in this same situation continually for 60 years!!
All side of politics have no solution, and the Argentinean people continue to suffer because their leaders are so incompetent..

[ryanmeier]

They don't want to re run because they stole so much money they're gonna run away before getting caught

[benitocamelo]

It doesn't matter, they won the FIFA WC and they're happy with that

[octavio]

This is what happens when soccer/football is all a country cares about and invest into. Not a coincidence that every time the world cup comes around argentias inflations rates magically sky rocket. Especially last fall considering they won the things

[theresnothingness]

People need to understand that there's more to Argentina than Messi, Football and World Cup. Truly a horrifying sight.

[mission]

You know the people are serious when they pull out the torches 🔥

[harbat]

We know why Jerome Powell is so serious on Inflation with his 2% target.

[MD]

Many Chileans are travelling by car to Argentina to do grocery shopping.
With $100 usa dollars they buy groceries for 5 months, $100 in Chile might buy you 2 weeks of groceries.
😢😢

[DarthPferd]

Remember... Normal life in Peronia (Argentina) is a life a poor citizen in a normal country has. So... Make your conclusions...

[r.sakarollsafe]

bruhhh... tell me in these few decades, when did Argentina did not face economic crisis? year after year they are run to the ground, bled to dry. If you think Brazil is corrupted, you haven't seen how Argentina is. Im surprised there are still people who wants to live there.

[lucasgentilemalaga]

I am argentine. I left my country 12 years ago because I saw all this coming. I have lived in USA, Germany and now Spain

Every country is different and has the pros and cons, but I have to say this : it is always the same story in Argentina. Nothing changes. You read newspaper today and they talk about the same they were talking about 50 years ago. It is a pity, Argentina was and could be one of the richest countries on earth.

The problem is that many people still don’t understand how we got to
This point. The answer is simple : all the ideas related with socialism never worked, doesn’t work now and it will
Never work.

Please, never vote Socialism.