Inflation – Argentina Freezes Prices – Economy

Because of the comparatively high inflation, the Argentine government has frozen the prices of more than 1,400 products. For the next 90 days, companies are not allowed to raise prices, as Secretary of State for Commerce Roberto Feletti announced on Wednesday. Previously, the left government of President Alberto Fernández broke off negotiations with the Association of the Food Industry without reaching an agreement. The list of products mainly includes food and hygiene products.

The inflation rate in Argentina is over 50 percent – this is one of the highest rates in the world. The once rich country is in a serious economic and financial crisis. Argentina suffers from a bloated state apparatus, low industrial productivity and a large black economy.