Argentina News

Buenos Aires studying many ways of raising Subte prices

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Buenos Aires studying many ways of raising Subte prices
Monday January 14, 2013

Juan Pablo Piccardo, chairman of Empresa de Subterráneos de Buenos Aires, the Subway company for Buenos Aires, has denied that there is a planned rise in price of the Subte during rush hours, saying that “numerous options are being studied”.

He explained over a radio interview “the only sure thing so far is the City government’s call for a public audience in order to discuss a $3.50-peso fare (currently at 2.50), which will be the result of last year’s inflation we experienced.

This price hike is being seen as a bit of a coup, since Piccardos assessment of last year’s inflation is around 40%, far higher than the INDEC National Statistics Bureau, indicated around 11%, or the perceived inflation rate by consumers and private companies of 25%.

In January 2012 the Subte experienced a hike of 127%, increasing the cost of travel from 1.10 peso to 2.50 pesos, so these possible hikes are going to be less than popular within the city.

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