Argentine stores to freeze some food prices for 90 days

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Demonstrators march to protestation against unemployment, nutrient insecurity and deficiency of resources adjacent an representation of Argentina's erstwhile archetypal woman Eva Peron, successful Buenos Aires, Argentina September 16, 2021. REUTERS/Mariana Nedelcu

BUENOS AIRES, Oct 13 (Reuters) - The Argentine authorities said connected Wednesday it struck a woody with retailers to frost the prices of 1,247 nutrient and household products for 90 days to combat ostentation arsenic the state heads toward legislature elections adjacent month.

Consumer prices are rising astatine astir 50% annually arsenic the state pulls retired of a agelong recession.

"We request to halt the shot truthful that nutrient does not proceed limiting the buying powerfulness of wage earners," the country's Secretary of Internal Commerce, Roberto Feletti, said successful a connection announcing the program.

"The basal nutrient handbasket successful December 2019 was 9% of the mean wage and successful the past measurement it was 11%," helium said.

While bully for consumers, the price-freeze measurement whitethorn make discomfort among retailers.

The Peronist authorities of center-left President Alberto Fernandez got thumped successful superior elections past month. The conjugation wants to bash amended successful the Nov. 14 vote.

Reporting by Lucila Sigal, penning by Hugh Bronstein; Editing by Cynthia Osterman

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