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Government Announce Price Agreement With Supermarkets

ARGENTINA
  • (Reuters) – Recapping news from Friday where the government announced a price agreement for supermarkets to limit monthly increases to a maximum of 5% for 90 days as the country attempts to tame triple-digit inflation.
  • Economy Minister Sergio Massa made the announcement after a meeting with supermarket representatives, noting that officials reached the deal with representatives of 31 local supermarket chains to "stabilize" prices until the election in October.
  • The agreement takes into account tax benefits for those supermarkets that do not increase prices above 5% per month, besides a credit program for small and medium-sized companies that supply supermarkets, the ministry said in a statement.

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