The Government of Argentina announced on Tuesday new economic measures that aim to curb inflation, which stood at 6,3% in July.
Among the announcements is a price agreement with the companies that will be in force for 90 days and that establishes increases of up to 5% per month.
"Taking into account the variation in the exchange rate, we are aware of this variation and in order not to affect the table of Argentines, we are establishing tax relief for companies so that they do not pass on the increase in the exchange rate to the product that citizens consume," stressed the Secretary of Commerce, Matías Tombolini, quoted by Telesur.
He pointed out that other agreements are being worked on with the country's main wholesalers and hypermarkets.
"The time elapsed between the announcement of the new fixed exchange rate for 90 days and the negotiations that have already begun with mass consumption companies, and continue tomorrow, will allow the stocks to be recomposed," said the head of Commerce.
In turn, he addressed the 22% variation in the exchange rate and assured "it does not enable abuses by companies in terms of price increases either."
It should be remembered that last Monday, the Central Bank of the Argentine Republic announced a 22% devaluation in the official currency, bringing the dollar price from 300 to 350 pesos.
This decision will be maintained until the presidential elections on October 22, after the PASO primary elections, in which the far-right candidate Javier Milei.
In addition, it has been decided to increase the key interest rate by a notable increment. The annual nominal rate will now be 118%, which represents the highest percentage reached in the last twenty years. Before the increase it was 95%.
