Connect with us

Hi, what are you looking for?

World News

Argentina announces price controls to bring down cost of popular beef cuts

ARGENTINA’s economy ministry announced on Monday a price control program to bring down the cost of popular beef cuts amid ongoing high inflation.

During a press conference, an economy ministry official said some popular cuts of meat would see prices drop around 30%.

In a separate statement, the ministry said the program has been applied to seven different types of meat and will be in effect until March 31, when a smaller price cut of 3.2% will come into play until June 30.

“The average price at which supermarkets were selling the (meat) cuts have been lowered by an average of 35%,” it added.

The announcement comes as the South American nation faces one of the highest inflation rates worldwide, which is expected to rise annually near 100% and to top 6% in January alone.

Drought in the country has also forced beef prices up, the ministry noted. — Reuters

    You May Also Like

    Business

    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...

    Business

    1.22 billion people use Instagram every month. That’s a huge number of Instagrammers trying to hit it big on the platform all at the...

    Business

    Since the rise of online casinos, cybersecurity has become a major concern for both casino operators and players alike. The transactions that go around...

    Business

    The Home Office has made next to no progress in tackling criminal fraud during the past five years, despite it having become Britain’s most...

    Disclaimer: rightdecisionnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023 rightdecisionnow.com | All Rights Reserved