LatinNews Daily - 19 October 2021

In brief: Argentina moves to freeze prices

* Argentina’s ministry of productive development has announced that the secretary of domestic trade, Roberto Feletti, is in discussions with representatives from the business sector to freeze prices on hundreds of widely used consumer goods, principally food, in a bid to keep costs down for consumers faced with rising inflation. Feletti has said that supermarket prices increased 2.2% between 1-18 October, with the price of some products soaring between 10% and 25%. Annual inflation in the 12 months to September stands at 52.5%. According to Feletti, who has met representatives from the Coordinadora de las Industrias de Productos Alimenticios (Copal) as well as from some of the main food and consumer goods producing companies, “there is a desire for an agreement” to establish a fixed price for 1,650 products for a 90-day period. Feletti has indicated that if an agreement is not reached, the government will enforce price caps by decree.

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