
Argentina has negotiated a new inflation-fighting gambit -- regulating prices of nearly 200 supermarket staples -- scheduled to go into effect January 1, the Commerce Department said Friday. The move echoes a 60-day price freeze on mass market supermarket items last February that failed to slow the country's heavy inflation. "We agreed on a basket of major consumer products," Argentine Commerce Secretary Augustin Costa told reporters at a press conference, reporting on the accord between the Economy Ministry and the big supermarket chains and their suppliers. So far, some 175 products, including meat, fruits, vegetables, beverages, cleaning and sanitary products are on the list, which should ultimately grow to 200 items. Costa said the list represents two-thirds of what a modest household consumes. He said the government would ensure prices are marked in accordance with the agreement. Chinese supermarkets -- which are common, especially in urban areas -- have not signed the agreement, though the government said it hopes to include them soon. The agreement, set to last one year, is "voluntary," Economics Minister Axel said. Argentina has seen soaring inflation over the last several years, though the IMF accuses the country of underplaying it. Official estimates of inflation are around 10 percent, while private institutes put the figure at around 27 percent.
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor