Commuters in Buenos Aires are being hit by an abrupt 360% increase in subway fares.
Commuters wait to board a subway car, in Buenos Aires, Argentina, Friday, May 17, 2024. Argentine commuters in Buenos Aires on Friday were hit by an abrupt 360% increase in subway fares, as part of President Javier Milei's budget austerity campaign.
“It obviously affects me because it means more money disappears from my salary every day, but the worst part about it is that there is zero investment in the service," said 35-year-old Sofía Acosta. “We commute in terrible conditions, cramped, delayed, and now we are paying more.”It's the third time this year that inflationary spikes hit subway fares — just 80 pesos last December — as Milei cuts, forcing city governments to raise costs.
Low fares have long been a boon for residents, especially those priced out of central Buenos Aires who commute long distances to work. But the cheap fares — like other subsidies for basic commodities — also constitute a large and growing cost that the heavily indebted government says it can't afford in the midst of Argentina's worst financial crisis in two decades.
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