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How many hours of work does it take to buy a hamburger, a soda and a beer in Argentina

2021-05-19T03:53:04.474Z


How much demand to buy these products in the country and how much in the rest of Latin America. 05/17/2021 7:57 AM Clarín.com Economy Updated 05/17/2021 7:57 AM How many hours do you need to work in Argentina to buy a coffee, a hamburger, a soda or a beer. And how much does it come out in the rest of the countries of Latin America. The conclusion has been the same for years, and increasingly worse: Argentina is cheap for the rest of the world and expensive for those who live in the country


05/17/2021 7:57 AM

  • Clarín.com

  • Economy

Updated 05/17/2021 7:57 AM

How many hours do you need to work in Argentina to buy a coffee, a hamburger, a soda or a beer.

And how much does it come out in the rest of the countries of Latin America.

The conclusion has been the same for years, and increasingly worse:

Argentina is cheap for the rest of the world and expensive for those who live in the country.

A study carried out by Focus Market analyzes the working hours necessary to purchase certain products, taking into account the income of a living and mobile minimum wage -measured in dollars- in Argentina and other Latin American countries.

For example, to

buy a hamburger in Venezuela you need 960 hours of work

, measured according to your living and mobile minimum wage, and

in Argentina

, on the other hand, only

4 hours and 36 minutes.

How much does it cost to buy a Burger

But that comparison that a priori leaves the country well, is diluted if one takes into account that in Uruguay you only need to invest 2 hours and 43 minutes, and in Chile 2 hours and 13 minutes of work to acquire the same product.

"In our country, more average hours are required than in the rest of the cases to buy many of the products that are marketed in Argentina

, despite the recent adjustment of the vital and mobile Minimum Salary in pesos, due to the devaluation of the local currency against to the North American currency, and compared with the purchasing power of the salary ", explained Damián Di Pace, director of the consultancy.

To buy a soda, for example, in Venezuela, a person needs to work 549 hours and 36 minutes;

in Argentina 1 hour and 29 minutes;

but in Peru only 37 minutes and in Ecuador 29 minutes.

How much does it cost to buy a soda?

In the first four months of the year,

inflation reached 17.6%

, according to the National Institute of Statistics and Censuses (Indec). In April, the data surprised again with an advance of 4.1%). This record brings the

Consumer Price Index (CPI) to a variation of 46.3% compared to April of last year.

It is the highest record for this time of year since 2002 according to LCG estimates (statistics were discontinued between 2007 and early 2016).

The data reinforce the premise that the country

 is cheap for foreigners and expensive for its residents.

"Argentina today has the second lowest living and mobile minimum wage measured in dollars in Latin America

. The other side of this situation is that, compared to higher wages in other

Latin American

countries, the goods and services that are marketed in Argentina measured in Dollars are very cheap for foreigners.

This opens an opportunity for the arrival of tourists with heavy consumption in the Argentine market

. However, it will be necessary to assess whether the exchange delay causes this advantage to be diluted over time, "said Di Pace.

Buying a beer in Venezuela takes 602 hours and 24 minutes, in Chile 2 hours and 16 minutes, and in Argentina 1 hour and 53 minutes.

While in Ecuador and Colombia it takes little more than 1 hour in each place.

How much does it cost to buy a beer

To have a coffee,

a Venezuelan needs to invest about 516 hours of work

;

a Mexican only 2 hours and 25 minutes and in Peru 2 hours and 4 minutes.

In Argentina, almost 2 hours.

In Brazil, on the other hand, you will have to work 1 hour and 19 minutes, and in Colombia 1 hour and 3 minutes.

Both countries with local coffee production.

How much does it cost to have a coffee

"If we take into account purchasing power parity, the number of hours needed to buy the same goods

can be increased if there is a widening of the exchange rate gaps throughout the year and a devaluation of the peso against the dollar

in the parallel market with respect to the official, since Argentines

would see their minimum wage deteriorate

to purchase those same products in other Latin American countries, "Di Pace explained.

Inflation chapter

In the first four months, retail prices soared 17.6%.

In this way,

this inflation is only surpassed internationally by Venezuela, which has 127.8%

.

While Lebanon, with 16.5%;

Angola, with 16.1% and Tunisia, with 7%, complete the first five places, according to a report by the Institute for Mass Consumption Studies (INDECOM).

Argentina is also second taking the annual accumulated of the South American countries, again behind Venezuela, but well above the following countries: Brazil and Uruguay, both with 4.5%.

Then there are Colombia (2.7%), Chile (1.7%), Peru (1.2%), Ecuador (0.7%) and Bolivia (0.5%).

Regarding the inter-annual ranking, if the period

between April 2020 and April 2021 is taken into account

, according to the study

Argentina is in third place, with 46.3%

.

In this case, Venezuela follows first with 3,012.2% and Lebanon second, with 157.9%.

The top five are completed by Turkey, with 17.1% and Egypt with 10.3%.

As for the projection,

according to the report, 2021 would close with an inflation of around 60%, well above the 29%

estimated by the Ministry of Economy of the Nation.

YN

Look also

Child poverty reaches 63% and reaches seven million children

Control of inflation and cash management are the challenges of Minister Guzmán according to experts

Source: clarin

All business articles on 2021-05-19

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