> For nearly 40 years, Argentina’s poverty level had consistently hovered above 25 percent. But since the far-right Milei took office on December 10, 2023, that figure has skyrocketed.
When he started, the poverty index was around 40%, not 25%. Then it peaked to almost 55%, but now they claim it has descended to around 40% again (It's probably down, but I'd wait a few months for confirmation.).
Also, from 2007 to 2015 the numbers were heavily cooked, so take that period with a grain of salt.
And in ~1990 we had an hyperinflation, that may skew the average in weird ways.
> But two months ago, their rent mushroomed from 90,000 Argentinian pesos to 150,000 — a leap from roughly $88 to $148. It was beyond their ability to afford.
We had a heavy rent control, so most apartments were out of the market and it was difficult to find one.
For some time it was ilegal to raise the rent and the inflation was 100% yoy. So a contract for two years used to say something like you have to pay an average of AR$75K, but only AR$50K during the first year and AR$100 during the second year. So no "rise", only a weird paying scheme.
Also, to renew it, you must pay the new market rate, but the inflation was 200% yoy instead of the predicted 100% yoy. So the new prize was AR$150K and AR$300K (with an average of AR$225K).
(IIRC there were some changes to allow increments that follow the inflation index, but only every 6 months. With an inflation rate of 250% yoy, that means that every 6 months your rent double overnight.)
So IMO it's not outdated, but the numbers are cherry picked and are difficult to understand if you never lived with a 200% yearly inflation.
gus_massa|1 year ago
> For nearly 40 years, Argentina’s poverty level had consistently hovered above 25 percent. But since the far-right Milei took office on December 10, 2023, that figure has skyrocketed.
When he started, the poverty index was around 40%, not 25%. Then it peaked to almost 55%, but now they claim it has descended to around 40% again (It's probably down, but I'd wait a few months for confirmation.).
Also, from 2007 to 2015 the numbers were heavily cooked, so take that period with a grain of salt.
And in ~1990 we had an hyperinflation, that may skew the average in weird ways.
> But two months ago, their rent mushroomed from 90,000 Argentinian pesos to 150,000 — a leap from roughly $88 to $148. It was beyond their ability to afford.
We had a heavy rent control, so most apartments were out of the market and it was difficult to find one.
For some time it was ilegal to raise the rent and the inflation was 100% yoy. So a contract for two years used to say something like you have to pay an average of AR$75K, but only AR$50K during the first year and AR$100 during the second year. So no "rise", only a weird paying scheme.
Also, to renew it, you must pay the new market rate, but the inflation was 200% yoy instead of the predicted 100% yoy. So the new prize was AR$150K and AR$300K (with an average of AR$225K).
(IIRC there were some changes to allow increments that follow the inflation index, but only every 6 months. With an inflation rate of 250% yoy, that means that every 6 months your rent double overnight.)
So IMO it's not outdated, but the numbers are cherry picked and are difficult to understand if you never lived with a 200% yearly inflation.
Empact|1 year ago