Commuters in Argentina's capital will soon have to pay more for public transit, as authorities announced a 100 percent fare hike on Thursday, adding to the crunch many are already feeling from inflation in the South American nation.
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The changes will double the bus fare in Buenos Aires from 3 to 6 Argentine pesos, or from about US$0.2 to US$0.41. The minimum train fare will increase from 2 to 4 pesos, and the subway will cost up to 7.5 pesos, or US$0.51, depending on the length of the journey.
The transit minister’s announcement was delayed on Thursday due to protests over mass layoffs of public sector workers since President Mauricio Macri took office last December.
The fare hikes, set to take effect April 8, come amid massive increases in the costs of basic services, including an up to 500 percent hike for water and an up to 300 percent increase in the price of gas.
Last month, Macri’s administration increased electricity bills by up to 700 percent.
Authorities are also considering hiking telephone rates, which could see users paying up to 200 percent more for the most basic service.
The latest increases in the cost of public transit and other servies have far outpaced wage increases. The monthly minimum wage in Argentina is 6060 Argentine pesos per month, or just under US$415. The last increase was Oct. 2015.
Transit fares in Buenos Aires were raised to the current rates in 2014.
Under the new system, subsidized riders, including pensioners, will still pay a lower rate for public transit.