The Trade Secretariat yesterday expanded the Precios Justos (Fair Prices) price agreement program to small grocery stores as part of efforts to control soaring inflation, which reached 8.4% in April, the highest in over 20 years. “More than 60% of the consumption of our compatriots takes place” in smaller grocery stores, Trade Secretary Matías Tombolini acknowledged. The new chapter of the program, Precios Justos Barriales (Neighbourhood Fair Prices), seeks to partially address the issue by adding 108 products to grocery stores with a 3.8% maximum monthly increase. The agreement was made with eight wholesalers (Maxiconsumo, Diarco, Yaguar, Vital, Parodi, Makro, Micropack, and Nini), which supply grocery stores. A source at one of the companies who asked to remain anonymous, said that it “adjusts” prices for stores not in the price program because their monthly costs rise by more than they can increase supermarket prices.

Source: Bueno Aires Herald June 03, 2023 00:11 UTC