Argentina freezes prices in supermarkets for two months

The Argentine government agreed with the major supermarket chains in the country for two months frozen retail prices of all products, said Monday the Ministry of Domestic Trade, in a move intended to contain high inflation.

 

The announcement comes after private consultants, as M & S's economist Carlos Melconian, reported that estimated that inflation in January reached 2.6 / 2.9 percent, a sharp jump in the price level of advancement over previous months which stood at 1.6 / 1.9 percent.

Argentina has one of the highest inflation rates in the world, with about 25 percent annually, according to private data. The government, whose measurements are challenged by economists, opponents, consumer organizations and even employees of the entity that produces, reported that prices rose 10.8 percent last year.

 

The International Monetary Fund (IMF) on Friday issued a "declaration of no confidence" against Argentina by concerns about the quality of their data on inflation and GDP growth (GDP) and gave the country given until September 29 to make corrective measures.

In his harshest rebuke for the quality of economic data, the directory of the multilateral agency said that Argentina had not made ??sufficient progress in the accuracy of their statistics after a first warning given a year ago.

 

Inflation is a major concern of Argentines, according to several surveys.

The Internal Trade Secretariat reported that the freeze agreement that will govern until April 1 was reached with the retail chains Coto, Jumbo, Carrefour, See, Disco, WalMart and The Limited, among others.