Argentine commuters in Buenos Aires on Friday were hit by an abrupt 360% increase in subway fares, one of the most dramatic price hikes in libertarian President Javier Milei 's harsh budget austerity campaign. After weeks of hearings, an Argentine judge on Thursday lifted an order that had temporarily blocked the scheduled increase in subway fares.
But at least in the short term, his deregulation and austerity measures have pushed up inflation — now at 289% annually, among the highest rates in the world — and made life harder for ordinary Argentines as the economy slips into recession. It's the third time this year that inflationary spikes hit subway fares — just 80 pesos last December — as Milei cuts federal subsidies for public transport, forcing city governments to raise costs.
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