The measure comes in addition to a price freeze agreed upon with supermarket chains, first announced on Tuesday but actually reached on Friday, and a freeze on medication prices announced on Friday. Additionally, the new Price Negotiation Unit launched on Tuesday agreed on a 90-day monthly 5% maximum price increase in consumer goods with 31 supermarket chains. Companies that agree to the 5% monthly price cap will receive tax benefits to prevent cost increases from being passed on to prices. In a press conference on Tuesday, Trade Secretary Matías Tombolini said that the situation would be sorted out in the meetings that concluded on Friday. “It’s a shared effort,” he said in a press conference.

Source: Bueno Aires Herald August 19, 2023 17:34 UTC