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The list of items included within Care Prices will be renewed when the Secretary of Domestic Trade of Argentina, Roberto Feletti, signs the agreements reached with businessmen in the food and consumer products sector in the negotiations to update the program.
These are 1,321 products that will suffer increases of around 6% between January, February and March depending on the article, establishing an average increase of 2% per month, a number less than that which has been marked by month-to-month inflation, which turns in around 2.5% (November) and up to 4.5% (analysts’ estimate for December). This new basket aims to replace the controversial price freeze on more than 1,400 consumer goods established by Feletti in October, which expired on Friday, January 7.
“There is a predisposition to dialogue and the Government proposes that it seeks to guarantee a wide and diverse basket, with affordable prices and quality goods, always representative of the average consumption of Argentines,” said spokesmen for the secretariat.
Companies were allowed to add or remove products from the list with greater freedom as long as they meet the requirements of quality and representativeness of consumption that the Government is targeting. This relaxation allowed the basket of Care Prices to grow almost double in contrast to its offer during 2021. The new agreement will be in force for one year with reviews every three months and controlled monthly increases, which will aim to position itself below the inflationary average. .
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