Alberto Fernandez freezes prices for more than 1,700 products in face of out-of-control economy

Argentina’s Peronist government, headed by Alberto Fernandez, has taken a series of economic measures to seek to contain inflation in the country – which could reach 100 percent by the end of the year – including a 15.6 percent hike in pensions and a price freeze on more than 1,700 consumer goods.

On Thursday, Argentina’s Minister of Economy, Sergio Massa, announced that the Government reached an agreement for supermarkets and consumer goods suppliers to maintain “fixed” or “with punctual increases” in the prices of more than 1,700 products. “The objective of this program is to provide peace of mind,” Massa stressed.

Of the products whose prices have been frozen, some will increase their value by 4 percent before adapting to the new regulations, and others will start with the current prices, but may increase by up to 4 percent per month, according to the agreement signed with the government.

“Inflation in Argentina is a very big problem for the vast majority of Argentines, but especially for retirees and pensioners,” the Economy Minister explained.