Argentina is no stranger to economic turmoil as it has defaulted on its national debt three times since 2001. Now the country is facing another brutal inflation, with an annual inflation rate of 88 percent recorded in October, up from 50 percent in January 2022.
Argentinian photographer Irina Werning captured the frustration Argentinians feel while working in a series of photographs. “Inflation destroys savings, makes planning impossible and discourages investment,” she wrote in the introduction.
In August, when the reported inflation rate reached 78.5 percent, Argentine workers held a mock funeral procession, complete with a coffin, to mourn the “death of wages.”
This article originally appeared in print under the title “Argentine Inflationary Crisis”.