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Alberto Fernandez freezes costs for greater than 1,700 merchandise in face of out-of-control financial system


Argentina’s Peronist authorities, headed by Alberto Fernandez, has taken a sequence of financial measures to hunt to comprise inflation within the nation – which may attain 100% by the top of the 12 months – together with a 15.6 p.c hike in pensions and a value freeze on greater than 1,700 shopper items.

On Thursday, Argentina’s Minister of Economic system, Sergio Massa, introduced that the Authorities reached an settlement for supermarkets and shopper items suppliers to take care of “mounted” or “with punctual will increase” within the costs of greater than 1,700 merchandise. “The target of this program is to supply peace of thoughts,” Massa harassed.

Alberto Fernandez. (Photo internet reproduction)
Alberto Fernandez. (Picture web replica)

Of the merchandise whose costs have been frozen, some will improve their worth by 4 p.c earlier than adapting to the brand new laws, and others will begin with the present costs, however could improve by as much as 4 p.c per 30 days, in accordance with the settlement signed with the federal government.

“Inflation in Argentina is a really large downside for the overwhelming majority of Argentines, however particularly for retirees and pensioners,” the Economic system Minister defined.

 

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