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August 30, 2014
Wednesday, January 29, 2014

Kicillof announces deal to roll back consumer prices

Economy Minister Axel Kicillof announced that the government has reached a deal with different companies to rollback the prices of products to levels recorded prior to January 21, when the peso suffered its strongest devaluation since 2002.

“The companies have made a commitment to rollback prices, to the ones which existed before January 21,” Kicillof stated, together with cabinet chief Jorge Capitanoch, while adding that ‘Precios Cuidados’ campaign which controls the cost of basic household items and foodstuffs “remains valid.”

Kicillof also revealed that increases “up to 7.5 percent” will be permitted in the electronic sector, and an “evaluation period” would be introduced by the Domestic Trade Secretariat, led by Augusto Acosta, who was also present at the press conference.

Acosta and his team will determine which products, due to the increased cost of components imported from overseas, would be justified in raising prices.

Following Kicillof's announcements, Capitanich insisted that the goal of the administration run by President Cristina Fernández de Kircher is to “take care of the consumer’s pocket,” and therefore added that “he (the consumer) needs to help us”.

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Tags:  Argentina  Economy  Dollar  Peso  Kicillof  CFK  





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