November 11, 2022 13:10 GMT
Government Announces New Price Freeze Program, Massa To present Today
- According to a resolution published in the official gazette, the government has created a new voluntary price program to freeze the values of mass consumption products from November 2022 to February 2023. Economy Minister Sergio Massa is expected to present the program today.
- (Bloomberg) The Program is reported to be called ‘Precios Justos’ , replacing another known as ‘Precios Cuidados’, and will start with a 4% increase for the products included in the list in regards to the average price increase for October. Prices must be maintained during the four months.
- The program was agreed to with companies that sell mass consumption goods and supermarkets, and includes more than 1,500 products, the Commerce Secretariat added in a statement sent by text message.
- Companies and supermarkets will be able to increase prices of products not included in the lists by a monthly average of 4%. (BBG)