The outing had the advantage of being free. Circe Castro and Miguel Rosas, a Chilean couple on vacation, strolled across Plaza de Mayo, at the end of which stands the Casa Rosada, the presidential palace with its iconic pink Neo-Renaissance façade. They were mesmerized by the beauty of Buenos Aires, but also by the prices. "It's so expensive! The restaurants, the supermarket, the clothes!" said Castro, a 56-year-old teacher, who was careful to limit her spending while out during their week-long stay.

After the years 2022-2023, when a weak peso made the cost of living in dollar terms very affordable, attracting tourists and other digital nomads, the arrival of ultraliberal Javier Milei to power in December 2023 marked the beginning of a new phase. It became the era of the "super peso," as the local press calls it, a currency that has significantly appreciated against the dollar, the reference currency.

The cost of an espresso in a café in the capital? Just over €3, at the official exchange rate, which is tightly controlled by the state. The price of a single yogurt in a supermarket? Around €1.70. In January, a video of Spanish tourists shocked by the much higher prices at Zara in Argentina compared to their home country went viral on social media. "Where's the complaint form? ...€125, for this scrap of fabric?" they asked, outraged.

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