Argentina freezes prices on 1245 products for 90 days

To control inflation, Argentina’s government imposed a 90-day price freeze on 1,245 mass consumer products. The information was released by the newspaper Clarín.

Secretary of Commerce, Roberto Feletti, asked companies to send price lists by October 1st. Prices will remain unchanged for consumers until 7 January. The government’s expectation is to send a clear signal of price stabilization.

The “3-month stabilization agreement” was presented by the secretary Feletti to 40 entrepreneurs this morning. They represent the main food and other foodstuffs factories.

According to information from Clarín, the businessmen were surprised by the request. They questioned whether the freeze will also be imposed on input suppliers.

The government’s request precedes the release of the September consumer price index in Argentina. Projections indicate that the increase for the month will be above 3%, after a fall of 2.5% in August, according to Clarín.

Concerns about inflation, and especially about the rise in the price of staple foods, returned to haunt the government after Economy Minister Martín Guzmán insisted for months that inflation would fall after the peak reached in March (4.6% ).