The Minister of Economy, Luis Caputo, met this Tuesday with representatives of supermarkets to discuss negotiations on price increases for mass consumption products. The meeting took place at the Ministry of Finance, where Caputo urged the chains to resist the increases proposed by manufacturers, which ranged from 9% to 12%, and not to apply hikes as a precaution.
In a context of stabilization of the exchange rate, food and hygiene product companies decided to halt the increases they had considered after the lifting of the currency control. During the meeting, the minister highlighted the importance of maintaining fiscal balance without resorting to monetary issuance and with a floating exchange rate. He also noted that the Argentine economy has experienced a year-on-year growth of 6% in 2024 and pointed out that there are no macroeconomic fundamentals for inflation.
Caputo also explained to supermarket representatives the progress of the economic program, emphasizing efforts to reduce taxes and improve the country's competitiveness while reaffirming the Government's commitment to fiscal surplus. The meeting, which included Pablo Lavigne, Secretary of Production Coordination, aims to avoid widespread price increases in order to continue slowing down inflation. The inflation rate for April is expected to be 3%, below the 3.7% recorded in March.
