Poverty in Argentina hits 20-year high at 57.4%, study says

FILE PHOTO: A sign outside a store reads in Spanish "We accept Dollars" in Buenos Aires, Argentina, December 12, 2023. REUTERS/Tomas Cuesta/File Photo

BUENOS AIRES (Reuters) - Poverty levels in Argentina hit 57.4% in January, the highest in at least 20 years, according to a report by the Catholic University of Argentina (UCA) cited by local media on Sunday.

According to the report, the devaluation of the peso currency carried out by President Javier Milei shortly after his inauguration in early December - and the price hikes caused by it - exacerbated poverty levels, which closed the year at 49.5%.