RPT-Buenos Aires public transport fares to rise despite inflation worries [Reuters]
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Source: Reuters
RPT-Buenos Aires public transport fares to rise despite inflation worries | Reuters Reuters Staff 3 Min Read (Repeats to additional clients, no changes to text) By Hugh Bronstein and Maximilian Heath BUENOS AIRES, Jan 3 (Reuters) - Bus, train and subway fares in the Buenos Aires area will rise this year, the Argentine government said on Wednesday, despite fears that the increases will stoke already high inflation. Fare increases on buses and trains will start in February, Transportation Minister Guillermo Dietrich told reporters, with an initial average rise of around 35 percent. “In order to continue funding public works, we will update rates in a gradual, step-by-step manner,” Dietrich said at a news conference. Subway rates are set to start rising in April. The news came a week after Argentina changed its 2018 inflation target to 15 percent from the central bank’s previous goal of 8-12 percent. Consumer prices rose 21 percent in the first 11 months of 2017, one of the world’s faste
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