Daily Management Review

Argentine authorities set to convince businesses to freeze food prices because of inflation


According to sources cited by the TN television station, the Argentine government has started discussions with businesses to freeze prices of essential food and hygiene products in the face of excessive inflation.

Phillip Capper
Phillip Capper
Argentina's inflation grew by 66.1% over the previous nine months to 6.2% in September. The Central Bank of Argentina previously released analysts' forecasts that the country's inflation rate will be 100.3% in 2022.

The administration intends to reach an agreement on prices, according to the media, which reports that invitations to meetings at the Ministry of Economy have begun to be sent to various enterprises in the mass consumption sector.

Authorities seek to create a collection of items and set a price for it, which will be printed on the packaging of each item. This mechanism is scheduled to go into effect at the end of the month and last for 90 days.

Those businessmen who signed the agreement can benefit from tax and credit relief in return.

source: tn.com.ar