Argentina's inflation numbers don't slow down: What will happen to the "Fair Prices" program? 1:30

(CNN Spanish) -- In a new attempt by the Government of Argentina to contain inflation, the Ministry of Commerce launched another price agreement on June 1: Fair neighborhood prices. The initiative offers a basket of products in nearby shops.

The program proposes to fix the value of a list of more than 100 items of daily consumption, which includes food, dairy, beverages, personal hygiene and cleaning. The prices of the basket will remain until July 15, with a renewal pattern of 3.8% scheduled for that date.

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Unlike the current agreement, the recent measure aims to bring the offer closer to the gondolas of neighborhood stores and self-services. Until now, Fair Prices (to dry) only contemplated the large supermarket chains.

It is a voluntary agreement between the National State and wholesalers, distributors and mass consumption companies. 30 suppliers and eight wholesale supermarkets that will supply retailers are part of the negotiation. In this way, neighborhood businesses will be able to offer the products to consumers at suggested prices and with a reasonable profit, according to a statement issued by the Secretariat.

In Argentina, inflation is a problem that cannot be solved. In April, the National Institute of Statistics and Census (Indec) registered a price increase of 8.4%, reaching 108.8 percentage points in the last year. In the food sector, the number is even more worrying: only in the last month the increase was 10.1%.

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According to the government, the objective of the measure "is to reactivate consumption in stores and self-services and shorten the price gap between the different sales channels." Consumers can find the offer of products detailed by locality on the page of Fair Neighborhood Prices and report shortages to the following email: preciosjustos@comercio.gob.ar.

In 2022, the Ministry of Economy presented this program that gave continuity to Care Prices, an anti-inflationary public policy promoted in 2014 during the government of Cristina Fernández de Kirchner, and that had continuity, in its different versions, since then.

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