The new list of reference prices for products of the basic basket has an average quarterly increase guideline of 9.3%.
The Government of Argentina renewed this Thursday the program ‘Prices Care’, a list of costs for mass consumption products that aims to be an anchor and a reference for the rest of the values in the market.
According to the Ministry of Economy, the new basket will be valid until October 7, with an increase guideline quarterly average of 9.3%, which will be 3.3% in July; 3.2% in August and 2.5% in September.
In charge of the Ministry of Domestic Trade, the program covers 949 products representative of the average consumption basket in various items and categories, such as groceries, cleaning, perfumery, personal care and hygiene, baby items, fresh and frozen products, and beverages.
In addition to Careful Prices, the Government updated the fruit and vegetable basket, which will be available in supermarkets in the Metropolitan Area of Buenos Aires (AMBA).
Although the program was scheduled to be renewed due to the gap in values caused by high inflation, the recent resignation of then Minister of Economy Martín Guzmán had an impact on the value of the dollar, a factor that is always transferred to prices.
In many stores in the country, after Guzmán left, they decided to suspend sales, or else mark up prices up to 20 %.
In the month of May, inflation was 5.1% and accumulated 60.7% year-on-year, the highest figure in the last 30 years in the country.
In March, President Alberto Fernández declared “war” on inflation, but since then he has not been able to contain it forcefully. Thus, the purchasing power of wages and pensions is deteriorating month by month due to this economic problem that Argentina has been dragging for years, aggravated by the current international context and also by internal disputes in the Government.