January 17, 2018
Sunday, January 5, 2014

Costa asks consumers to keep eye on price accord

Augusto Costa (3rd from right) appears alongside Cabinet Chief Jorge Capitanich and other gov''t and retail representatives, in the official announcment of the new price agreement
Trade Secretary Augusto Costa has asked shoppers to ensure that products covered in the government's new price agreement are maintained at the agreed levels, while criticising businesses that according to the politician were unwilling to give up profits.

"The business logic of maximising profits puts certain limits on fair redistribution. We are aiming to limit the capacity of those who set price to take over what is not theirs," fired Costa, speaking one day before the new pact comes into effect.

The civil servant expressed his faith in the accord, also damning those who had questioned the policy: "They are looking to confuse [the people], in order to veto any government initiative."

Costa explained that 100 different basic products, which includes meat, dairy, drink and cosmetic articles, would be covered by a total of 194 prices set through negotiations between retailers and the government. He added that the policy's aim was to encourage transparency and consistency for the prices of essential goods.

"The objective of this 'basket' is to attack a problem that stems from the structure of an oligopolistic market, which is related to the lack of references for the consumer about relative prices and about certain products used day-to-day," he emphasised.
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Tags:  supermarkets  inflation  price rises  basic basket  

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