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☆ Argentina's ruling Peronist party wins provincial elections
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

May 14 - Argentina's ruling Peronist party posted strong wins in elections Sunday, appearing to hold control over three provinces just months ahead of presidential elections in which support for the party is flagging. The results come as a relief to President Alberto Fernandez's ranks as economic unrest has shaken the party's hold over the country. Fernandez has said he is not seeking re-election, however a Peronist coalition is still aiming to hold onto power. Although the outcome is good news for the party, its fate in the presidential elections will likely be decided in more populous provinces, such as Buenos Aires, Cordoba, Santa Fe and Mendoza. Reporting by Maximilian Heath; Writing by Kylie Madry; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

The measures include an interest rate hike by the central bank, the economy ministry said in a statement. The ministry did not elaborate, but an official source told Reuters the hike would be 600 basis points, bringing the rate up to 97%. The rate hike will take effect Monday, the source added. The South American nation is battling to bring down inflation that hit 109% on an annual basis in April. The central bank will also increase its intervention in the foreign-exchange market and double down on its currency devaluation plan, the ministry said.

REUTERS/Agustin MarcarianBUENOS AIRES, April 14 (Reuters) - Argentines, painfully accustomed to decades of spiraling prices, say that the current 102.5%-and-climbing inflation rate is on another level and is making it almost impossible to get by. "In my case, I have zero capacity to save," said Claudia Hernansaez, a publishing company employee. "In one year, beef went from around 1,000 pesos ($4.66) or 1,200 pesos to 2,800 pesos." Paola Lavezzari, also in publishing, said inflation was forcing her to tighten the purse strings and buy cheaper products. Because what you used to consume of a better quality, today is unaffordable," she said.

☆ Argentina inflation undershoots, easing pressure to hike rates
▼ + stars: | 2022-10-14 | by ( Walter Bianchi | ) www.reuters.com time to read: +2 min

The government's INDEC statistics agency reported on Friday the monthly inflation was 6.2% last month, slower than in August and undershooting analyst forecasts of a 6.7% increase. Aldo Abram, executive director at consultancy Libertad y Progreso, said inflation would remain high into next year, before easing back ahead of presidential elections. Argentines on the street said they were increasingly struggling to afford things as prices outstripped salaries. "You have to pay attention to how much things cost because there are things that you can't pay for. You have to eliminate things from your diet because wages can't keep up," 53-year-old housewife Claudia Villalba told Reuters.

☆ Argentina to raise public transport fares by 40% in Buenos Aires
▼ + stars: | 2022-07-21 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, July 21 (Reuters) - Argentina's government will raise public transportation fares by 40% in the Buenos Aires metropolitan area in August, ending a freeze that had been in place since 2019, according to a notice published in the country's official gazette on Thursday. The price hike, which followed a non-binding consultation, will not make up for the rise in the consumer price index, which just this year could exceed 80%, according to private estimates. Starting in August, the minimum bus ticket in Buenos Aires will cost 25.20 pesos ($0.19), up from the current 18 pesos ($ 0.14). Argentine President Alberto Fernandez's Peronist government is grappling with spiraling inflation and tensions within the ruling coalition. Reporting by Walter Bianchi, Edited by Maximilian Heath; Writing by Aida Pelaez-Fernandez; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Alberto Fernandez's, Walter Bianchi, Maximilian Heath, Aida Pelaez, Fernandez, Paul Simao Organizations: Alberto Fernandez's Peronist, Thomson Locations: BUENOS AIRES, Buenos Aires, Argentine

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