Argentina’s Peronist authorities, headed by Alberto Fernandez, has taken a collection of financial measures to hunt to comprise inflation within the nation – which may attain one hundred pc by the top of the 12 months – together with a 15.6 p.c hike in pensions and a worth freeze on greater than 1,700 shopper items.
On Thursday, Argentina’s Minister of Economy, Sergio Massa, introduced that the Government reached an settlement for supermarkets and shopper items suppliers to take care of “fixed” or “with punctual increases” within the costs of greater than 1,700 merchandise. “The objective of this program is to provide peace of mind,” Massa pressured.
Of the merchandise whose costs have been frozen, some will improve their worth by 4 p.c earlier than adapting to the brand new laws, and others will begin with the present costs, however might improve by as much as 4 p.c monthly, based on the settlement signed with the federal government.
“Inflation in Argentina is a very big problem for the vast majority of Argentines, but especially for retirees and pensioners,” the Economy Minister defined.