Milei government opens up food imports in bid to curb price hikes

The government of Argentina announced on Tuesday (12) the green light for importing some staple food items after a meeting involving the Minister of Economy, Luis Caputo, and representatives from supermarket chains. The move aims to lower inflation and ease the financial burden on Argentinians.

“We understand that the economy is gradually normalizing, and, thus, this decision has been made to open imports for certain products in the staple food basket,” said presidential spokesman Manuel Adorni after the meeting.

According to him, the decision to open imports for some food products is aimed at “making prices more competitive for the benefit of Argentine families and consumers.”

The presidential spokesman explained that the details of the measure will be announced in the coming hours, but there will be “some reduction in taxes” on imported food to help correct prices.

During the meeting with business leaders, Caputo emphasized that the high prices of products do not reflect the new economic reality, but that the alternative of promotions and discounts applied by supermarkets, such as those of 60% off or “buy one, get one free,” may harm the Consumer Price Index (CPI).

Source: Valor Econômico

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