Argentina’s Trade Secretariat fined multinational companies Coca-Cola and Danone for selling products with monthly price increases up to 10 times over the limit established by the Precios Justos (Fair Prices) agreement. Danone was fined AR$45 million (US$205,397 at the official rate, US$103,199 at the MEP rate) while Coca-Cola was fined AR$40 million (US$205,397 at the official rate, US$91,732 at the MEP rate). In a press release, the Trade Secretariat said that the fined companies raised prices by up to 32.8%. However, the agreement is only applied in supermarkets and not smaller grocery stores. The Trade Secretariat said that it found, during price monitoring operations in grocery stores, that the suppliers were charging their products with markups well above the cap.

Source: Bueno Aires Herald April 30, 2023 14:15 UTC