July 24, 2014
Supermarkets agree to freeze prices for two months
The National Government has reached an agreement with the largest supermarket chains to freeze retails prices for two months in an effort to tackle inflation, the Domestic Trade Secretariat announced.
The announcement was made after several economic analysts reported that inflation in January ranged between 2.6 and 2.9 percent. These results are a drastic variation of the inflation index registered in the previous months, which ranged between 1.6 and 2.6 percent.
According to private analysts, Argentina has one of the highest inflation rates in the world.
The Government announced that prices saw a 10.8 percent increase last year, a figure that is challenged by economists, the opposition, consumer organizations and even employees working for the very Government organization that measures inflation.
The Domestic Trade Secretariat reported that the agreement will remain in effect until April 1st, and includes large supermarket chains such as Coto, Jumbo, Carrefour, Vea, Disco and WalMart among others.