For the last two years Argentina has suffered from hyper-inflation and spiralling costs. But recently?
GV & SV Buenos Aires street scenes (3 shots)
SV & CU People looking at food shop window: (tins of crab 5,500 pesos)
SV others Foodstuffs on display (cooked ham 2,200 pesos a Kilo)
CU foodstuffs: tea (1,800 pesos, condensed milk 700 pesos)
SV &CU: Woman looking in clothing shop (skirt 7,750 pesos)(2 shots)
SV & CU: Man looks in shoe shop window (pair man's shoes displayed at 17,450 pesos) (2 shots)
SV & LV Banco de la Provincia del Chaco with long queues stretching along footpath. People going past exchange rate board.
SV & CU INTERIOR Bank staff counting notes (4 shots)
SV EXTERIOR: street market: Customers walking by and inquiring about meat (4 shots)
SV & CU woman at vegetable stall (onions 75 per kilo, asparagus 440 pesos (3 shots)
CU ZOOM OUT Woman collecting change and putting into purse
Script is copyright Reuters Limited. All rights reserved
Background: For the last two years Argentina has suffered from hyper-inflation and spiralling costs. But recently President Jorge Videla boasted that his government was keeping inflation at 150 per cent a year..... an improvement on 400 per cent a year ago. For Argentinians, though, increasing costs and the decreasing purchasing power of their wages has become virtually an accepted way of life.
SYNOPSIS: In the streets of the capital Buenos Aires the cost of living is the main topic of conversation. In July fuel prices sent heating and transport costs soaring. Even food, such as meat, which once almost everyone in Argentina could afford, is becoming too expensive. Cooked ham on display costs 2,200 pesos, about 10 dollars. A woman's skirt, about 29 dollars, and men's shoes nearly 67 dollars.
At banks, long queues have been forming as people try to cash in on the recent interest rate war between the banks. Rates more than doubled to reach 14 per cent a month on fixed term deposits and two official banks even offered 130 per cent a year with special rates for 30 day depositors.
Thousands deposited their money hoping for a quick return but now the banks have called a truce among themselves.
At the beginning of October the minimum wage went up 65 dollars on government orders. But at the same time, since the Videla Government took control two years ago, the purchasing power of the average wage packet has dropped by half.