There is a certain consensus in the government that a devaluation of the caliber that some sectors are asking for would generate an inflationary spiral. Despite the fact that until now the Central Bank has not given the arm to twist on the official price, the IPC stopped its fall and it is expected, according to what private consultants anticipate, that the figure for July will be above 7%.
The strongest remarks came from the uncertainty faced by the industrialists due to the complications to access the Single Free Exchange Market to replenish supplies. The idea is with a larger cushion of dollars, which would arrive due to the announced advancement of exports and the implementation of multilateral credits, to provide certainty about the replacement cost.
In this way, look for this to also work as an anchor in expectations and specifically, that it be reflected in the prices of the gondolas. With the arrival of Matías Tombolini, the Secretary of Commerce now brings together a series of powers that it did not have, fundamentally linked to Foreign Trade. This opens the door for you to have a joint vision of what is happening around imports and local price dynamics.
In that line, it would operate a “give and take” of dollars and prices. In other words, those who take dollars to the official price must demonstrate that this is reflected in the cost structure and then in the prices paid by consumers. They will also aim to monitor overstocking behavior and guarantee proper supply at all points of sale.
In radio statements, Tombolini anticipated that, with the idea of generating a reference at a time of strong price dispersion, Care Prices will be relaunched. “We are going to get together with the supermarket cameras, the distributors and the local mouths. The idea is to raise the level of commitment of those who participate, we want it to have the imprint it had in 2014 and 2015”, said the official.
As Ámbito anticipated, the head of the Palacio de Hacienda launched a much stricter control of imports that will be operated through Customs. In this sense, the triangulation maneuvers that could lead to under-invoicing of exports and under-invoicing of imports were put under the magnifying glass. An exchange gap business that accelerates the exit of dollars from the Central Bank. Specifically, it works on some 13,000 operations of 722 companies for more than US$1,250 million.
Source: Ambito
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