After inflation data, Massa meets with his team and prepares a battery of measures

After inflation data, Massa meets with his team and prepares a battery of measures

After the dissemination of the inflation index for April, the leadership of the Ministry of Economy prepares measures for economic stabilization.

Although private estimates already suggested the widespread disappointment that the announcement of the inflation of Aprilwhich reached 8.4% in the month and accumulated a 108.8% year-on-yearthe jolt in the Ministry of Economy generated a quick reaction in the high officials of the portfolio, who are meeting with Sergio Massa.

Sources from the Economy portfolio confirmed to Ambit that he Minister will hold work meetings throughout Saturday and measures will be announced in the next 48 hours, in order to directly address the inflationary spiral. This same Friday a series of meetings took place in the Treasury Palace where the action plan for the following weeks was drawn up.

During the day, they met with Massa the Vice Minister of Economy, gabriel rubinstein; the chief of staff of the portfolio, Leonardo Madcur; and the second vice president of BCRA, Lisandro Cleri, along with other relatives of the portfolio. The meetings took place after the act of the last welding of the Nestor Kirchner pipelinewhere he participated in a videoconference in which the president also spoke Alberto Fernandez.

Own rubinstein was the first national official to offer a response after the announcement of the inflation of the last month. “We perceive that the exchange rate unease in the markets of financial dollarin the last part of the month, promoted preventive price hikes in many products and services in our economy,” he said in a statement posted on social media.

Likewise, he analyzed that “although some components of the Core CPI showed a significant slowdown compared to the high levels of March, such as beef (2.7%), other components maintain accelerated dynamicssuch as meat (26.4%), dairy products (11.1%), sugar (10.6%) and bread and cereals (8.5%)”.

“This will require redouble efforts from macroeconomicsin order to specify policies that allow improving fiscal accounts, the reserve accumulation and exchange rate stabilityas well as strengthen the income policy, all in order to achieve better results in the fight against inflation,” the text concluded.

Source: Ambito

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