Argentina Poverty Rate Above 40% Fuels Despair Ahead of Vote
- Poverty rate rose to 40.1% of population in 1H 2023 from 39.2%
- Inflation above 124% main worry ahead of October election
A homeless man prepares a meal on a street in Buenos Aires in September 2022.
Photographer: Luis Robayo/AFP/Getty Images
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Poverty levels in Argentina spiked as inflation soaring above 124% undermines household purchasing power, fueling despair ahead of a heated October election.
About 40.1% of Argentines were living in poverty in the first half of the year, up from the previous level of 39.2%, according to government data published Wednesday. It’s below the peak seen during the pandemic but a clear sign that inflation is devastating Argentina’s society and economy, which is careening toward its sixth recession in a decade.