At the same time, Ámbito anticipated that “a clear path” would be sought for the dollar and rates. As confirmed by government sources to this medium, these will be the next steps, in the event that the drop in inflation projected by the Ministry of Economy begins to crystallize: take the devaluation from a rate of 7% per month to one closer to 4 %; With this scenario, a gradual process of lowering rates could also begin.
This last point could also be accompanied by the international context. promptly from a change of direction of the Fed in the United States. A few days ago, the brand new executive director of the Economic Commission for Latin America and the Caribbean He told this medium that “the light is beginning to be seen at the end of the tunnel and it is possible that the need to continue raising rates in the first or second half of 2023 will not be as strong.”
Although the necessary condition for all this, they understand in Economics, is to continue with the process of accumulation of reserves. With the launch of the soybean dollar II, the Government and the industry set themselves the objective of reaching the liquidation of some US$3,000 million until the end of the year. In the first week, a third was already fulfilled by selling some US$1,000 million that way.
With these ingredients, at the Palacio de Hacienda they are betting on bringing “real inflation closer to theoretical”. They understand that reducing the inertial component should drop from 100% in 2022 to 60%, or less, in 2023. The goal they set is that starting in April, the consumer price index “starts with 3.” For now, the CPI for November is on track to be the lowest since the resignation of former minister Martín Guzmán in July.
Fair Prices
The official evaluation of the first steps of Precios Justos is positive. The high-frequency monitoring carried out by the Commerce secretary They report a slowdown in the rate of increase in the categories of mass consumption: food and beverages, personal hygiene, and cleaning.
After formalizing the agreements with more than 80% of the firms participating in the plan, last Thursday the first meeting of a monitoring panel was held, which from now on will meet every two weeks. Massa Y Matias Tombolini they received companies and supermarkets. There were calls for attention due to the lack of promotional material in some points of sale and the promise of speeding up access to foreign currency.
Some forty mayors signed agreements to join the control of the program and thus were also empowered to issue the corresponding fines in case of non-compliance. This week the spots will begin to rotate in the mass media and a dissemination campaign will be launched.
more deals
After adding fuels to the Fair Prices plan, Massa will seek a series of agreements to shield compliance with the 4×4 plan, which determines the ceiling of 4% per month for four months for increases in 30,000 mass consumption products. The Secretary of Commerce seeks to add the main suppliers of inputs for the food industry and manufacturers of perfumery and personal hygiene items. It is about a dozen companies that mainly provide paper, cardboard and glass, among others.
At the same time, approaches are being tested with other sectors. This weekend the Minister of Economy, together with the Secretary of Industry, Jose Ignacio de MendigurenAlready Tombolinimet with representatives of the footwear industry and the Association of Metallurgical Industrialists of the Argentine Republic to start proceedings.
Along the same lines, negotiations are underway with the private sector to include tourism providers that have a high incidence in the December, January and February indices in the list of price agreements. Then, in March, the education category has a greater weight. As Ámbito learned, conversations have also begun for the launch of a basket of school products.
Source: Ambito
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