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MNI DATA FORECASTS: RBA, BOC To Fore
Widespread Price Freeze Ahead Of Midterm Election
- The government is freezing prices on 1,432 household items in an attempt to halt accelerating inflation in advance of November's midterm election and the Christmas holiday period.
- The price freeze will remain in place until January 7.
- The list is larger than the ~900 items government officials had originally pitched to companies and supermarkets last week before price discussions between the government and industry leaders fell through on Tuesday.
- The announcement is the latest piece of evidence for the government's tense relations with the private sector, following a failed nationalization of a soybean exporter, temporary export bans and a prohibition on firing workers.
- Interior Commerce Secretary Roberto Feletti criticized business leaders in his statement Tuesday. (BBG)
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