Argentina's poverty rate rises to 32.3 percent under Milei, with more pain forecast

Argentina's poverty rate rose to 32.3 percent in the first half of 2026, up 4.1 percentage points from 28.2 percent in the second half of 2025, according to figures released Thursday by the national statistics agency INDEC. Extreme poverty rose from 6.3 to 7.5 percent, and unemployment reached 7.9 percent in the second quarter, the highest since 2021, as per-person household income grew 11.5 percent while the cost of basic necessities rose nearly 20 percent. Catholic University of Argentina estimates point to a poverty rate of 35 percent by year-end. The rise is a setback for President Javier Milei, elected in 2023, who had cited falling poverty as proof his free-market overhaul was working.