Prices and Wages

How costs and wages in Argentina have changed since December 2016: in dollars, euros and more at each month's average Blue rate (the expat's view), or in hours of work at the average wage (the local's view). Pick both to compare. All peso prices are converted to US dollars at that month's average Blue rate.

About these numbers

• Sources: INDEC (Argentina's statistics institute) for inflation and prices, and the Labor Ministry for wages, through the government's open data. Monthly, from December 2016, when INDEC's current price index starts (its 2007-2015 figures were widely discredited).
• Change (start = 100): the first month shown is set to 100 and every later month is its ratio to that month, times 100. So 250 means 2.5 times the starting price (up 150%). To compare any two months, divide one by the other: 300 in one month and 200 in an earlier one means prices went up 1.5 times (50%) between them, whichever month the chart starts at.
• Inflation lines are INDEC's national consumer price index, overall and by category. "Housing & utilities" is mostly utilities (electricity, gas, water) plus some rent. "Restaurants & hotels" is mostly eating out.
• Prices are INDEC's average prices in Greater Buenos Aires. Table wine is basic vino común, not the bottled Malbec most visitors buy.
• Big Mac: its price in pesos from The Economist's Big Mac Index (surveyed each January and July), converted at the Blue rate like everything here. The Economist itself converts at the official rate, which made Argentina look pricier in dollars when Blue was far above official. Around 2011-2013 there were reports that Argentina's Big Mac price was being held down, so treat older figures with care.
• World prices (FAO): the UN Food and Agriculture Organization's Food Price Index and its meat index: international prices of traded food, in US dollars. Compare "Food" with "World food prices" in USD to see whether food got pricier in Argentina or everywhere.
• Average wage is RIPTE, the average taxable salary of registered (formal) workers. Informal workers, about 40% of the workforce, usually earn less. Minimum wage is the national salario mínimo, vital y móvil.
• Other currencies: each month's peso amount divided by that month's average Blue buy rate (what you get when you sell dollars), and for euros, pounds etc. by the European Central Bank's rate for the US dollar. Rates on the exchange-rate charts.
• Hours of work: the peso price divided by the average wage (RIPTE) for that month, at 176 working hours a month: how long someone on the average formal wage works to pay for it. No currency conversion is involved (the FAO world prices are priced in pesos at that month's Blue rate first).