Overview

• Credit cards account for 46% of supermarket purchases, up from 39% at the start of Milei’s term in December 2023
• Debit-card use has declined to 27% and cash payments to 16%, underscoring growing household reliance on debt
• Installment payments for essentials now consume about 19% of the average family budget, increasing pressure on disposable income
• Wholesale and supermarket revenues remain approximately 34% and 28% below December 2023 levels, reflecting a sustained retail slump
• Lower inflation from a floating exchange rate and IMF support has not restored demand, as high interest rates and the end of state-backed credit programs have driven up borrowing costs and prompted retailers to deplete inventories