Thousands protest in Argentina's capital against inflation

LONDON

Thousands of people gathered in the streets of Argentina’s capital Wednesday in what was labelled a “march against inflation" as a prominent labor union warned it may be the first of many mobilizations.

People attending the march in Buenos Aires called for government action to help protect their salaries and purchasing power, which have been struck hard by inflation and currency devaluation as the national currency, the peso, has plummeted in value.

Members of labor and social movements marched from Buenos Aires' Obelisk to Congress under the slogan "First is the Homeland" around 2.30 p.m. local time (1730GMT).

The General Confederation of Labor (CGT) workers’ union, which largely represents government employees, warned that it may be the "the first of many mobilizations" if the economic crisis continues to hit the country hard.

"Inflation has reached intolerable levels that pulverize the purchasing power of workers, and much of the responsibility depends on sectors that appropriated profits in times of workers’ losses," it said in a written statement.

The leadership of the CGT, made up of Héctor Daer, Pablo Moyano and Carlos Acuña, gave a press conference, demanding the government take action.

Daer pushed for solutions and not "for a devaluation process that would impoverish the people and increase the mass of structural poverty.”

Moyano acknowledged that Wednesday's march may be the first of several mobilizations if Argentines continue to be hard hit when it comes to putting food on the table.

Acuña described the rising costs during the economic crisis as a "race that we workers are losing.” He did leave room for optimism, however, noting if salaries recover their "purchasing power,” it will be for the "wellbeing of the entire country."

Facundo Moyano, a trade unionist and politician who resigned in August 2021 from the ruling Frente de Todos coalition, described the mobilization as a "warning call" for the government.

“Are we going to spend the year and a half that we have left in government talking about the debt that (former President Mauricio) Macri took? We already know that," argued Moyano. "Frente de Todos has the capacity to solve problems."

In July, Argentina reported a monthly inflation rate of 7.4%, the highest figure in two decades.

According to INDEC, Argentina's national statistics agency, consumer prices have increased 71% over the past year.

Today, around four in 10 Argentines live below the poverty line.