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| Economy |
| Argentina tries freezing prices to break 30 percent annual inflation spiral |
| 2013-02-04 |
| Argentina announced a two-month price freeze on supermarket products Monday in an effort to stop spiraling inflation. The price freeze applies to every product in all of the nation’s largest supermarkets — a group including Walmart, Carrefour, Coto, Jumbo, Disco and other large chains. The companies’ trade group, representing 70 percent of the Argentine supermarket sector, reached the accord with Commerce Secretary Guillermo Moreno, the government’s news agency Telam reported. The commerce ministry wants consumers to keep receipts and complain to a hotline about any price hikes they see before April 1. Polls show Argentines worry most about inflation, which private economists estimate could reach 30 percent this year. The government says it’s trying to hold the next union wage hikes to 20 percent, a figure that suggests how little anyone believes the official index that pegs annual inflation at just 10 percent |
| Posted by:tipper |
| #5 Next, like any banana republic, their government will be clamping down on credit rating agencies to prevent them from issuing lower credit ratings. ..... Oh, wait....... |
| Posted by: Lone Ranger 2013-02-04 20:11 |
| #4 Yeah good luck with that. |
| Posted by: DarthVader 2013-02-04 19:50 |
| #3 pretty obviously a Juice/British conspiracy to impose reality on the Argie markets? Oh yeah, and when you're starving you can eat Peronist promises from Christina |
| Posted by: Frank G 2013-02-04 19:43 |
| #2 So I guess they prefer empty market shelves. |
| Posted by: Glenmore 2013-02-04 19:35 |
| #1 A price freeze? Really? Have they ever worked in the past? |
| Posted by: bigjim-CA 2013-02-04 19:35 |