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Mon Feb 4, 2013, 03:44 PM

Argentina pegs supermarket price rises for two months

Source: BBC

The Argentine government has put a temporary price freeze on all products sold in the country's main supermarket chains to try to fight inflation.

A group representing two-thirds of Argentina's supermarkets agreed to keep prices steady until the first of April.

The move comes days after the International Monetary Fund (IMF) censured Argentina for issuing inaccurate economic data.

The government says inflation is below 11% but economists say it is double.

Read more: http://www.bbc.co.uk/news/business-21331052

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Reply Argentina pegs supermarket price rises for two months (Original post)
Bosonic Feb 2013 OP
Common Sense Party Feb 2013 #1
AnneD Feb 2013 #2
loudsue Feb 2013 #3
FrodosPet Feb 2013 #4

Response to Bosonic (Original post)

Mon Feb 4, 2013, 04:20 PM

1. Same mierda, different decade.

I was there during Menem's hyperinflation at the end of the 80s, beginning of the 90s.

All the stores closed for a few days after Christmas 1989--they would not open because they didn't know what price to charge, because inflation was blasting out of control.

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Response to Bosonic (Original post)

Mon Feb 4, 2013, 04:35 PM

2. They need to introduce ...

the WIN button (whip inflation now). Yah, that's the ticket.

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Response to Bosonic (Original post)

Tue Feb 5, 2013, 12:45 AM

3. President Nixon enforced price freezes on many things during his term in office.

I think it's a good idea sometimes, and part of a good economic policy.

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Response to loudsue (Reply #3)

Tue Feb 5, 2013, 01:19 AM

4. Did they force companies to keep up production?

Were they offered supply and wage price protection as well? Perhaps subsidies in hardship cases?

Sounds good for consumers as long as the supply chain remains unaffected.

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