According to Fox News, the results of an investigation from the Catholic University of Argentina (UCA) showed that the poverty rate in Argentina in January reached 57.4% (the highest level in the past 20 years).
The figures were released in the context of President Javier Milei's decision to devalue the peso by 50% after taking office in Argentina in December 2023, and the prices of essential goods have escalated out of control. The purchasing power of the middle class has decreased and the poverty rate in Argentina has increased significantly after only 2 months of the new government 's tenure.
The UCA survey estimates that nearly 27 million Argentines are living in poverty. The UCA also notes that this is the time when Argentine society has fallen into a record recession, much higher than the 54% rate in 2004, and predicts that this rate will increase in the coming months.
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