With inflation over 50%, Argentina renews controlled price program

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Problema histórico na Argentina, inflação foi de 51,2% em novembro na comparação com o mesmo mês no ano anterior

Historical problem in Argentina, inflation was 51,2% in November compared to the same month in the previous year| Photo: EFE/Juan Ignacio Roncoroni

The government of Argentina has renewed the “Prices Care” program, which aims, in the midst of high inflation, to provide a price reference for goods representing everyday consumption, according to a statement from the Ministry of Productive Development.

The government of President Alberto Fernández reached an agreement with more than one hundred companies producing mass consumer goods, so that 1 .89 products will be part of the new list of the program, according to the official note.

The program will be effective annually, with quarterly reviews. The first stage will be valid until April 7 and foresees an average monthly increase of 2% in the prices of all products.

The launch of the new “Care Prices” basket took place one day before the announcement of inflation in December.

Result of an agreement between government, manufacturers, distributors, supermarkets and wholesalers, the “Prices Care” program appeared in 2000, in Cristina Kirchner’s term in the presidency – she is the current vice. Maintained in the management of Mauricio Macri (2015-2000), it was relaunched by Alberto Fernández with his own strategy, which included the request to freeze prices on more than 1,400 products until January 7 of last year.

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