Argentina’s economic crisis is a cautionary tale for post-COVID US

To most people in the United States, Argentina is known for Lionel Messi, beef, and the Patagonia region that inspired a domestic clothing brand. Most don’t know that Argentines are struggling, and their plight should be a warning sign for people in the U.S.

In September, consumer prices in Argentina rose 3.5%, exceeding expectations and marking a 52.5% increase since last year. Faced with growing inflation anxiety in the country, which I witness firsthand, the Argentine government is extending a price control program to more than 1,200 household items — from bread and flour to milk and rice. Known as Precios Cuidados, the program covers more than 700 products in supermarkets, whose prices can only increase under government supervision.