LatinNews Daily - 14 February 2023

In brief: Argentina introduces price controls for meat

*Argentina’s Economy Minister Sergio Massa has announced a new price agreement that will guarantee that beef can be purchased at a more affordable rate in the domestic market. Posting on Twitter, Massa said that in the context of high inflation, “consumers will see a 30% reduction in the price of meat” with a “35% discount in butcher shops and neighbourhood shops”. Massa stated the agreement will apply to seven popular ‘grill’ cuts of beef, and will be in effect from 17 February until 31 March, when a smaller price cut of 3.2% will be introduced until 30 June. In addition, those who buy beef cuts with debit cards under this price agreement will be entitled to reimbursements of between 10 and 35%. The reduction in meat prices is part of a price control programme known as ‘Precios Justos’ which was initially launched by Argentina’s government in November 2022 and recently extended from until the end of June. The programme was negotiated with suppliers and supermarkets to ensure the stabilising of the prices of around 50,000 products in the face of high inflation across 15 key sectors of the country. 

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