Argentina agrees to freeze prices

Buenos Aires – Argentina’s government this week announced it had reached an agreement with the private sector to freeze prices on more than 1 200 goods in a bid to slow soaring inflation.

The country’s statistics institute announced that inflation since January was 37% while the figure over the last 12 months was 52.5%, one of the highest in the world.

“These 1 247 goods with their prices frozen will provide an anchor to stabilise inflation,” said Roberto Feletti, the secretary for internal commerce.

“The important thing is to slow down the ball and to guarantee a quarter with lots of consumption,” Feletti told El Destape radio.

The agreement relates mainly to food and cleaning products.

Companies have voluntarily agreed to return prices to their levels on 1 October and will remain fixed until 7 January 2022.

“The response from businesses was positive,” said Feletti.

Argentina has suffered two decades of high inflation. –