Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

At a Buenos Aires soup kitchen, lines grow longer as inflation soars

Published 06/14/2023, 10:45 AM
Updated 06/14/2023, 04:21 PM
© Reuters. FILE PHOTO: A costumer counts money before buying tangerines in a green grocery store, as Argentines struggle amid rising inflation, in Buenos Aires, Argentina May 11, 2023. REUTERS/Agustin Marcarian/File Photo

By Miguel Lo Bianco

BUENOS AIRES (Reuters) - Anahí Robledo feeds 50 families each day at the community kitchen she runs in a poor neighborhood on the outskirts of Buenos Aires, struggling with the chronic inflation that has thrown four in every ten people in the country into poverty.

Argentina is battling an economic crisis which could see inflation hit around 150% by the end of the year, one of the highest rates in the world.

Robledo said the soup kitchen she works at can't keep up: it went from feeding 10 or 15 families to around 50 today.

"You can't keep count of the dishes we have to make for that amount of people," said Robledo, a 47-year-old domestic worker who volunteers on the side, as she kneaded bread.

"It makes me sad because nothing has changed and everything continues to get worse. I would like each family to have a plate of food on their table to eat with their children and not have to come to a soup kitchen," she said.

Argentina has long battled high inflation, currency weakness and indebtedness, but high global prices linked to the war in Ukraine and one of the country's worst-ever droughts have hit its ability to stabilize its economy.

Argentina's official statistics agency is set to release official inflation data for May later on Wednesday, with analysts predicting a monthly rise of 8.8%, even faster than the 8.4% jump a month earlier. The annual rate is already 109%.

To get the growing amount of food they need, Robledo goes to a large market on the outskirts of Buenos Aires to rummage through discarded fruit and vegetables and salvage what she can.

"We go to the wholesale market and from there we get the vegetables. When the boys come out to throw them away, we grab them, clean them, chop them and freeze them," she said.

As in other soup kitchens in the country of 46 million people, many children come to get fed.

© Reuters. FILE PHOTO: A costumer counts money before buying tangerines in a green grocery store, as Argentines struggle amid rising inflation, in Buenos Aires, Argentina May 11, 2023. REUTERS/Agustin Marcarian/File Photo

"Why is there such a need? It's like something is failing, do you understand? We are worse off than before," Robledo said as she served rice pudding to a girl in a cut-up plastic bottle.

"How do you tell people when there's nothing left for them?"

Latest comments

That will be the USA soon
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.