Full restaurants, long lines in shopping malls and shortages in supermarkets: postcards of the crisis

The jump in the exchange rate of the last few days has accelerated consumption in large shopping centers and gastronomic circuits. The postcard was repeated in different parts of the country: from Puerto Madero to La Quiaca: all those who could go out to spend their pesos before they continued to lose value. Also in several border towns there was a greed of tourists from neighboring countries who crossed to take advantage of the change.

With the blue dollar at a record nominal of $ 273, several groups of Uruguayan tourists were spotted strolling downtown Buenos Aires, strolling, and shopping over the weekend. In Puerto Madero, after noon on Sunday, the image repeated itself: the restaurants offering “all inclusive menus” were full, with several minutes of waiting.

Clients were local and foreign, and the options were varied and affordable for the international visitor’s pocket. For example, an all-you-can-eat menu is included salads, cold cuts, offal, barbecue, seafood, sushi, pasta, paella, specials, pizzas, desserts, ice cream, for $ 3,600 per person, about $ 12 at the financial exchange rate.

That yes, in the letters some stolen changes have already begun to be seen as a consequence of those missing due to the crisis. With the price of runaway salmon above $ 5,000 per kilo, many restaurants have begun to discontinue dishes which included this type of meat or to replace this ingredient with domestic fishery products.

In parallel, in La Quiaca, the northern border with Bolivia, as the peso has lost value in recent days – the depreciation due to the rise of the free dollar has been 17% in the last five days – the amount of Bolivians who met to “stock up” on products in the shop. According to a Bolivian television service, the price of some foods, such as flour, has caused smuggling between countries to rise.

Argentina has an annualized inflation of 60.7%, according to the latest data reported by the Indec. The parallel dollar has risen nearly 40% so far this year. Meanwhile, in Bolivia, the dollar has remained relatively stable against its currency since 2011, and the country has amassed the region’s lowest inflation rate, at 1.4% year-on-year.

Although the constant observations affect the purchasing power of the locals, the prices of food and drinks are “given away” to foreign visitors. The exchange rate gap drives this consumption but at the same time complicates the accounts of the Central Bank.

Tourists arrive in the country but exchange dollars on the informal market. Between 2011 and 2020, the tourism deficit was $ 23.5 billion. only this year, $ 161 million entered the country, while more than $ 2.625 million remained due to overseas consumption.

Meanwhile, the Argentines also took advantage of the two days of the weekend to shop in advance. They have seen each other long lines in hypermarkets and shopping centers. In the first too, some are missing. In a Día supermarket in Villa Urquiza, customers complained about the lack of toilet paper. In Coto de Boedo, the same scene: fewer toilet paper options and less variety of brands in some products, such as water cans.

“With a difference of two months, I see fewer brands on the shelves,” said a customer in a Wilde supermarket. “Likewise, it is still convenient for us to come to the department stores and stop buying in the neighborhood stores, which have raised their prices more and do not have the promotions and discounts with the banks.”

According to several consultants of the Municipality, with reliefs that have reached 20% in recent days, inflation in the first week of July for food and beverages has increased by 2.5%.