Rising poverty grips Argentina as runaway inflation takes its toll

By DÉBORA REY
Associated Press

BUENOS AIRES, Argentina (AP) — Homeless shelters in Argentina’s capital are seeing demand soar as more people are struggling to make ends meet amid an annual inflation rate above 100% that is pushing more people into poverty. The government’s statistics agency said Wednesday that 40.1% of Argentines are living in poverty. That is up from 39.2% in the second half of 2022. For much of the 20th century, Argentina showed a social mobility dynamic that gave rise to a large middle class and made the country stand out in the region. This century, however, poverty has remained firmly above 25% as the South American country is mired in an economic malaise.