Argentinians are shifting to second-hand clothing. Here's why

Argentina is grappling with a severe economic crisis as inflation reaches a staggering 143 per cent, forcing citizens to adapt their spending habits. Hard-hit by rising prices, Argentines are increasingly resorting to second-hand clothing markets, not only to find affordable apparel but also to generate extra income by selling their old garments.

According to Reuters, the South American nation, ranked as the region's second-largest economy and a significant grains exporter, is undergoing one of its most challenging periods in decades. With two-fifths of the population living in poverty, a looming recession is casting a shadow over Argentina's upcoming presidential election runoff next Sunday.

The economic downturn has fuelled voter frustration, propelling the radical outsider, Javier Milei, slightly ahead in polls for the presidential race, challenging Economy Minister Sergio Massa, the candidate of the ruling Peronist coalition.

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The cost of new jeans, for example, has more than doubled in the past year, now representing over one-third of Argentina's monthly minimum wage.

The country's annualised inflation hit 142.7 per cent in October, according to the statistics office, with a monthly increase of 8.3 per cent. Although the monthly rise is down from peaks in August and September, it remains above analyst forecasts. Argentina's long-standing battle with high inflation, attributed to money printing and a lack of confidence in the local peso, has intensified over the past year.

In response to the economic challenges, many Argentinians are turning to alternative ways to make ends meet. Beatriz Lauricio, a 62-year-old semi-retired teacher, and her husband, a bus company employee, participate in clothing fairs on weekends to sell old garments. Lauricio emphasised the daily necessity of their actions, telling Reuters, "We're not doing this as a little extra so we can go on vacation to Brazil; we do it out of daily necessity."

María Silvina Perasso, the organiser of a clothing fair in Tigre, on the outskirts of Buenos Aires, highlighted that people shop there because prices have outpaced salaries. The local monthly minimum wage, officially 132,000 pesos, is effectively halved at real street rates due to capital controls.

(With inputs from Reuters)

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