Fox NY | Argentina institutes price controls to fight inflation

BUENOS AIRES, Argentina (AP) — Argentina announced a two-month price freeze  on supermarket products Monday in an effort to break spiraling inflation.

The price freeze applies to every product in all of the nation’s largest  supermarkets — a group including Walmart,  Carrefour, Coto, Jumbo, Disco and other large chains. The companies’ trade  group, representing 70 percent of the Argentine market, reached the accord with  Commerce Secretary Guillermo Moreno, the government’s news agency Telam  reported.

The commerce ministry wants consumers to keep receipts and complain to a  hotline about any price hikes they see before April 1.

Polls show Argentines worry most about inflation, which private economists  estimate could reach 30 percent this year. The government says it’s trying to  hold the next union wage hikes to 20 percent, a figure that suggests how little  anyone believes the official index that pegs annual inflation at just 10  percent.


(18853 Posts)