Argentina's inflation soared, and subway fares in the capital rose by 360% overnight

According to a report by The Guardian on the 17th, the budget tightening campaign launched by the Argentine government has pushed up the cost of public transportation in the country, and the subway fares in the capital Buenos Aires have risen by 360% overnight from May 16 to 17.

After weeks of hearings, an Argentine judge on May 16 rescinded an order to temporarily block the planned price increase of the subway. Buenos Aires' subway one-way ticket price soared more than twice on the 17th, from the original 125 Argentine pesos (about 1.03 yuan) to 574 pesos (about 4.70 yuan), an increase of about 360%, exacerbating the cost of living crisis in Argentina.

Municipalities have been forced to raise costs due to a lack of subsidies for public transport, marking the third time in 2024 that Argentina has seen soaring inflation hit metro fares. In December 2023, the Buenos Aires metro fare is only 80 pesos (about 0.66 yuan). At the same time, bus and train prices are rising in the city. Officials said that on June 1, subway fares will rise to 650 pesos (about 5.33 yuan). However, the city government will postpone the price increase to 757 pesos (about 6.21 yuan) until August 1 to ease the financial burden on passengers.

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