For the next 90 days, the 31 supermarket chains in the country will not be able to increase more than 5% per month, after Sergio Massa’s announcement.
Sergio Massa, Minister of Economy.
After price freeze of the fuels and fixation of official dollar, Sergio Massa made a new announcement that is aimed at the stabilization of the national economy: a price agreement with the main supermarket chains.
This Friday, the Economy Minister announced the agreement establishing a cap of 5% per month for 90 days with 31 supermarket chains retailers and wholesalers, including Día, Carrefour, Coto, Chango Más, Makro, Vital and Maxiconsumo, along with other companies with shops in the Argentine provinces.
In exchange, companies agree to tax benefits that seek to prevent an eventual cost increase be transferred to the final prices of consumers. At the same time, it is intended to prevent the devaluation of the official exchange rate cause more inflation. Within this framework, companies that increase their prices above the 5% they will be penalized and their tax benefits will be withdrawn.
“Argentina has lived in the last five days situations of instability“He began his speech Sergio Massa and went on to maintain that “the IMF forced Argentina to devalue to proceed with the disbursement schedule. This devaluation generated distortions and changes in the price equation and companies and generated some level of difficulty and uncertainty for citizens and SMEsbut also for large companies”.
For her part, the United Supermarket Association promised, through a statement, to work so that the price lists and the agreements are respected in this new stage. In his speech, the candidate for Union for the Fatherland assured that “we are going to make those who do not comply feel all the weight and the rigor of the law“.
Negotiations were held within the framework of the Price Agreement Negotiation Unit of which the Customsthe Commerce secretarythe Economic Policy Secretariat and the AFIP through its highest authorities: William Michel, Matias Tombolini, gabriel rubinstein and Carlos Castagneto.
Source: Ambito
