Home Business Argentina Announces Measures To Contain Inflation and Reactivate Consumption

Argentina Announces Measures To Contain Inflation and Reactivate Consumption

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Argentina’s government announced Wednesday a series of measures aimed at stemming inflation and boosting consumption in the country amid a crisis that seriously undermines the chances of the re-election of President Mauricio Macri.

“The main measures we are launching are the result of an agreement with leading companies to maintain prices for 60 essential products and not increase utility tariffs for this year for at least six months,” the government said in a statement.

The measures were announced weeks after a rise in poverty in the country last year was recorded as a result of high inflation – which in March alone was 4.7 percent – and the decline in economic activity.

Macri said he would seek reelection in the October elections.