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Tuesday, December 6, 2022

everything you need to know about the new official plan to contain inflation

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At the closing of the act, Massa thanked the “coordinated work” together with the more than 100 companies that participated in the agreement and suggested to those who still hesitate to join that they do so because “they are going to lose market.”

Fair Prices is a voluntary agreement for 120 days between the National Government, companies that supply consumer goods, and supermarkets to maintain constant prices for more than 1,700 products in the food, beverage, dairy, personal hygiene, and cleaning categories.

Axes

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Products that will remain with fixed prices enter the program at a price up to 4% higher than the average registered during the month of October 2022 and will remain stable for the next 120 days.

The rest of the products marketed by the companies that join the program will have a monthly increase guideline of up to 4% for the same 120 days on the sale price to supermarkets and wholesalers.

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The State grants guarantee and certainty in the process of importing intermediate goods, finished goods that are part of the value chain and inputs for the companies that are committed to this price agreement.

The objective of the measure is to achieve price stability for essential products consumed by Argentine households for a determined period of time.

Fair Prices contains more than 1,700 products at a fixed warehouse price, dairy, cleaning, perfumery, personal care and hygiene, baby items, fresh produce and beverages. Consumers will be able to find the program’s products on the shelves of retail and wholesale supermarkets

How to identify the products

The Ministry of Commerce created specific Fair Prices signage so that supermarkets clearly and precisely indicate which products are covered by the measure. It will be visible in the supermarket gondolas.

fair prices 2.PNG

The products, prices and participating businesses can be found on the official page of the program: https://www.argentina.gob.ar/preciosjustos

Inspection and verification of compliance

The Secretary of Commerce will sign agreements with mayors and mayors to strengthen monitoring. In this way, the number of inspectors throughout the country is expanded.

These agreements will be replicated with different municipalities throughout the country to reinforce the federal nature of the measure. In turn, the Secretary of Commerce will transfer to the corresponding local authority 25% of the proceeds from fines made in each district.

The Ministry of Commerce will continue to monitor price variations on a daily basis through the Electronic System for Advertising of Argentine Prices (SEPA).

Source: Ambito

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