Inflation in Argentina Continues to Rise and Affects Meat Consumption

In Argentina, inflation in 2023 was 211 percent. The record was set in December with an increase of +25.5% over the previous month, after the price growth that followed the arrival of the government of libertarian Javier Milei, who implemented a sharp devaluation of the currency and introduced a series of price deregulation measures.

In the first months of 2024, the situation may have worsened: in February, the recorded figure was even 267%. According to the Argentine Chamber of Meat Industry and Commerce (CICCRA), cited by Italian news agency ANSA, it has also had a significant impact on some widely consumed foods in Argentina, including beef, a real icon of the country.

According to the data, meat consumption in the first two months of 2024 decreased by 8.2% compared to the same two months in 2023. In 2022, Argentines consumed 59 kg of meat annually; today this figure has fallen to 51.7. Over the past year, the average price of the most popular foods in this South American country has increased by 288%, which is above inflation.