Argentina’s Socialist Inflation Nightmare Worsens as Months-Long Protests Snarl Capital

Huge black market for US dollars as economist predicts prices could jump 90 percent by end of 2022

Socialist groups call for protests against a raise in rent prices in Buenos Aires on Aug. 4, 2022. Autumn Spredemann/The Epoch Times

BUENOS AIRES, Argentina—Car horns blared as thousands of protesters from socialist unions blocked three main avenues in Buenos Aires near Plaza de Mayo in front of the office of President Alberto Fernández on Aug. 4.

The cacophony has become the city’s background noise in recent months, with a string of massive demonstrations protesting the government cutting the nation’s generous subsidy programs.