Argentinians wage inflation strike on red meat sending beef consumption to 20-year low
Argentina is experiencing a significant decline in beef consumption, reaching a 20-year low due to economic austerity measures. The rise in beef prices, coupled with reduced household incomes, has led consumers to switch to cheaper protein sources like chicken and pork. President Javier Milei's policies have resulted in a budget surplus but have also drawn criticism for their social impact.
- ▪Annual per capita beef consumption in Argentina has fallen to 44.5 kilograms, down from 49.5 kilograms a year earlier.
- ▪Beef prices have surged over 60% in the past year, reaching an average of 18,500 pesos per kilogram in Buenos Aires.
- ▪The government's austerity measures have led to cuts in public spending and reduced household disposable income.
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At 6 a.m., in the Mataderos neighborhood of Buenos Aires, workers unload sides of beef from a truck outside a butcher shop as customers line up for wholesale purchases. Inside, 73-year-old owner Jorge García and his staff prepare meat orders before dawn.Recommended Video Among the stacks of beef boxes and red meat cuts hanging from metal hooks, chicken and pork are increasingly present. Red meat consumption in Argentina — historically one of the world’s biggest consumers of beef — has fallen to its lowest level in two decades amid economic austerity measures imposed by libertarian President Javier Milei.
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