Romina Jara has navigated five runs on the peso in recent years. This year brought the sixth. But unlike in the past, Jara – a manager in a wholesale supermarket – and other shopkeepers don’t plan on passing on the cost increase to customers, at least not immediately. “This time, we’re not going crazy and rushing to raise prices,” the 46-year-old said.
Among the reasons for this: weak consumer spending in Argentina and President Javier Milei’s crusade against inflation, which includes deep budget cuts, a tight grip on the currency and a move by the Central Bank to stop printing money to finance public spending. But, despite lower inflation overall, many consumers are feeling the squeeze from rising bills for school tuition, private health-insurance and other expenses. Shoppers increasingly stick to essentials and foot traffic is thinning, limiting the ability of businesses
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