LatinNews Daily - 25 July 2022

In brief: Argentina announces price-control inspections

*Argentina’s government led by President Alberto Fernández has announced inspections to ensure companies’ compliance with price controls and dismantle any “speculative moves”. In a statement, the economy ministry said the “intensified price control operations” would be carried out by the ministry of commerce, the labour & social security ministry, federal tax collection agency (AFIP) and the tax collection agency of Buenos Aires province (ARBA). Inspections will take place in the coming weeks with the participation of more than 100 officials and will target supermarkets and companies with high market value that produce mass consumption goods. “We are planning to ensure the best auditing process,” said commerce secretary, Martín Pollera, stating that the previous administration of Mauricio Macri (2015-2019) had “destroyed” the process by cutting the number of inspectors from 500 to 13. The announcement comes the Argentine government extended its ‘Precios Cuidados’ price-control programme on 8 July, for a further three months. The programme covers 949 basic products, including many food items, and aims to tame inflation, which is currently running at an annual rate of 64%.

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