Argentina is one of the most expensive countries in Latin America. The average salary across the country reached the figure of 586 (586 us $, 650 Euros) pesos a month, but with large regional differences (official figures of INDEC).
Inflation is 1% (INDEC) and the unemployment rate is about 18% (INDEC).
The Lonely Planet suggests at least 35 to $40 per day (food and lodging) for a normal traveler. Universities for foreign students suggest a budget of approximately $500 per month.
Have a look in the following links to obtain more information about the cost of living: