February 5, 2013 10:00 AM

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Temporary price freeze on supermarket products in Argentina in bid to fight inflation

The Argentine government has put a temporary price freeze on all products sold in the country's main supermarket chains to fight inflation. A group representing two-thirds of Argentina's supermarkets agreed to keep prices steady until the first of April. The move comes days after the International Monetary Fund, IMF censured Argentina for issuing inaccurate economic data. The government says inflation is below 11 per cent but economists say it is double. Some economists think the annual inflation rate could rise as high as 30 per cent this year.The supermarket agreement covers every item in all of the nation's largest chains.

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