One ad a day. In a perfectly rehearsed choreographythe economy minister, Sergio Massa, reported this Thursday that he had agreed with the chambers of the pharmaceutical sector “a price path from December to the end of March”, with which “Drugs may only increase up to 3.8% per month”compared to the November values.
“It is also expected a trigger clause within which, in the event that inflation exceeds 5%, in the following month companies will be able to apply an increase up to one point below the Indec measure”, reads the official press release.
This is the fourth price deal announced by Massa this week. Tomorrow, Friday, official sources confided clarionit is very likely that he will sign a new engagement with around 60 clothing brands, which had frozen their prices since September. And they are also advanced negotiations with tourist companies to keep prices under control in the summer season.
As for the agreement with pharmacists, the government has clarified that it only includes the sale of prescription drugs. “Free sales are excluded”, explains the statement. Massa thanked the “effort” of the entrepreneurs grouped in the 3 main chambers of the sector: CILFA (Industrial Chamber of Argentine Pharmaceutical Laboratories; COOPERALA (Business Chamber of COOPERALA Pharmaceutical Laboratories); and CAEME (Argentine Chamber of Medicinal Specialties (CAEME).
Knowing the inflation data for November (4.9%), which fell below 5% for the first time since February (4.7%), Massa spoke about it. “This reassures us because we have been on a path of reducing inflation. We took office 4 months ago with seven and a half points and have gradually managed to bring inflation down,” the official said.
The secretary of Commerce, Matías Tombolini, highlighted the announcement marathon of the last few days. “This week we closed deals with different sectors of the Argentine economy, such as cell phones, widespread supplies, sports shoes, and now we have managed to close this too (because of prescription drugs), essential for us too, an official said .
This Wednesday was the turn of the shoe factories of the main brands that are present in the local market. The companies in the sector have agreed to lower “up to 20% of the prices in force in December in the brands and models of shoes with the highest turnover on the market”. Limits on increases of up to 3% have also been set for the months of January, February, March and April.
The agreement provides for a well-known formula: prices per dollar to be able to import. “Moving to a production volume of 40 million pairs is important in terms of employment and investment. We have the challenge of taking care of the dollars, promoting employment and investment and lowering inflation,” Massa told representatives of Adidas, Nike, Puma, Topper, Fila, Umbro, Asics, Kappa, Crocs, Reebok, Vans, Hush Puppies, Rip Curl, Lotto, New Balance, All Star, Converse, Le Coq Sportif, Jaguar, DC, Kioshi, Decker, Addnice, Head, CooperShoes, Kalwer, Joma, Pony, Bicontinentar and Ferli.
“Voluntary agreement”, “price path” and “predictability” for access to dollars are part of the vocabulary of the current economics team. This Monday, precisely, those same phrases were used to announce Now 10, a new program to purchase 83 mobile phone models in 10 fixed installments at the annual rate of 48%, or almost 15% less than the traditional Now 12. In However, Tierra del Fuego-based electronics makers have agreed to freeze prices for 90 days.
Source: Clarin
