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September 23, 2014
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Price control: Gov't announces fines for supermarkets

Domestic Trade Secretary Augusto Costa (L) and Economy Minister Axel Kicillof (R) address reporters to announce fines for supermarkets.

Economy Minister Axel Kicillof and Domestic Trade Secretary Augusto Costa held today a press conference to announce sanctions on supermarkets that failed to comply with the “Precios Cuidados” price watch program.

Kicillof told reporters that fines totalized 31 million pesos. Still, the misniter considered the government-sponsored policy to control the increase in prices and tackle inflation has had “very satisfactory” results reaching out for 73 percent of the traders involved in the agreement. 

Following is a list of supermarket’s compliance with Precios Cuidados and the fines they will be forced to pay:

Observance

Coto: 83 percent

Carrefour: 77 percent

Cencosud chain (includes the Jumbo, Disco and VEA supermarkets): 73 percent

Día: 70 percent

Walmart: 58 percent

Chango Más: 58 percent

 

Fines:

Coto: 2,203,043 pesos

Carrefour: 3,624,578 pesos

Cencosud chain (includes the Jumbo, Disco and VEA supermarkets): 9,699,271 pesos

Día: 3,813,218 pesos

Walmart: 11,826,366 pesos

Chango Más: 11,826,366 pesos

In today's message, the officials also announced the so called COMPRAR network that will allow smaller retailers to join the price watch program.

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Tags:  Precios Cuidados  prices  control  Axel Kicillof  Augusto Costa  





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