Argentina freezes prices to break inflation spiral

Associated Press ^ | February 4, 2013 | ALMUDENA CALATRAVA

[LucianOfSamasota]

BUENOS AIRES, Argentina (AP) — Argentina announced a two-month price freeze on supermarket products Monday in an effort to break spiraling inflation.

The price freeze applies to every product in all of the nation's largest supermarkets — a group including Walmart, Carrefour, Coto, Jumbo, Disco and other large chains. The companies' trade group, representing 70 percent of the Argentine market, reached the accord with Commerce Secretary Guillermo Moreno, the government's news agency Telam reported.

The commerce ministry wants consumers to keep receipts and complain to a hotline about any price hikes they see before April 1.

Polls show Argentines worry most about inflation, which private economists estimate could reach 30 percent this year. The government says it's trying to hold the next union wage hikes to 20 percent, a figure that suggests how little anyone believes the official index that pegs annual inflation at just 10 percent.

The government announced the price freeze on the first business day after the International Monetary Fund formally censured Argentina for putting out inaccurate economic data. The IMF has given Argentina until September to bring its statistics up to international standards, or face expulsion from the world body in

[publius911]

The price controls are to keep the populace sedate.
Once the shortages happen they can blame the producers and then let loose the pent up anger of the populace on them........

Certainly!
Because, without exception, that has always worked before.

< /sarc >

[Old Sarge]

Ironically, it was Archie Bunker who said it best:

“He’s doing a hell of a job for a guy nobody voted for!”

That show was crammed so full of Leftists, and Archie himself was a mockery of conservatives.

[yorkiemom]

We are Argentina waiting to happen. Got water and food and GUNS/AMMO?

Yup - a little too much ;) We are contemplating moving across the country and just the thought of moving it all is daunting. But getting to a better (read 'safer') location is also important.

I thought we were emulating Greece. But Argentina - ok, that too.

[yorkiemom]

People have been expecting inflation here but, it’s been artificially stifled.

Other than on the things we buy and use ;(

Actually, I agree that we'd have much higher inflation if the economy was allowed to work normally. Holding interest rates down artificially - I wonder if that also impacts inflation. Or does the gov just want the inflation numbers low (and so pretend they are) so they can pay low COLAs and brag how well infation is doing...

[eddie willers]

I’m surprised it was 19 posts in before someone brought up Nixon.

I was at my girlfriend’s house during the speech and her father (a doctor) said it would be a miserable failure.

He was not only right, but had a marvelous daughter....ah regrets...

[greeneyes]

OH YEH - like that will work. Lived through price freezes with Nixon. For the first time, our grocery shelves looked like the Soviet Union’s - empty of many necessities.

Price controls result in shortages and long lines.

[M Kehoe]

Argentina announced a two-month price freeze on supermarket products Monday in an effort to break spiraling inflation.

Well why not, that policy has failed every time it's tried.

5.56mm

[WCH]

Just one of the ways inflation is ‘disguised’.

We were talking in the grocery store about how many ‘fancy’ brands would bite the dust when people could no longer afford them.

[bgill]

That’s when they started being creative, making entirely new cuts of meat

There's no such thing as a real roast anymore.

[immadashell]

Damn, I seem to have misplaced my copy of Black Market Setup For Dummies. Can anyone help me out? Thanks

[TEXOKIE]

bfl

[Marcella]

“We are contemplating moving across the country and just the thought of moving it all is daunting. But getting to a better (read ‘safer’) location is also important.”

I don't remember if we talked about where you live and your “about” page doesn't say. Moving would just about do me in, but if I lived in the northeast states that are determined to take/limit my guns/magazines/ammo, my freedom, those sicko blue states, I'd have to move. And, add California to that list - I'd get out of there.

[yorkiemom]

me too - doing me in!

But we’re anxious to get out of Mexifornia and back to the US. So a move is necessary, if not soon then in 5 years if we have to wait that long. I really want to die hearing English spoken ;) NO border states for me either again - I’ve lived in 2 and they were both ruined. And when amnesty passes, that could turn TX and AZ purple, even blue, with all the new Dem voters. Not to mention, all the other states. The country will be toast - but I still want to find an enclave that resembles the old USofA.

[yorkiemom]

Oh, one more thing of concern to me in moving - the lack of public land in most states.

I think I’d be a sitting duck in my preferred location (rural KY) if the economy wanes and the hordes from the cities come into the country areas. And the lack of firewood and hunting and fishing in most places could be an issue.

Here in CA, we have a cabin backing over a million acres of national forest. And the location is rather remote and unknown, up a windy road with no outlet.

I’d REALLY like to find something similar in a better state. Rather than jump from the frying pan into the chaos.