Massa announced a new price agreement with the clothing sector until the end of February
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The Minister of Economy of the Nation, Sergio Massa, announced a “new price agreement with the clothing sector until February 28”, in addition to highlighting “the level of compliance with the agreement reached in September.”
Massa stressed that the level of compliance was verified in the November consumer price index, when “for the first time the item remained below inflation.”
“We set prices until February 28 and maintain volumes; this allows us to schedule imports and production for next year; we know that January and February are months of inflationary tension, so we highly appreciate the effort they make to continue setting prices because, In some way, it allows us, while you finish ordering the economic variables, for ordinary citizens to have a better perspective of their daily spending,” Massa said.
In this regard, Massa thanked the level of compliance “between 83 and 87 percent” of the agreement signed in September and that he aspires to “raise that level of compliance” and for the Government to comply with its obligations of “availability of foreign currency and incentive to subsidized credit”.
“It is very encouraging that in the November index, the clothing item is below inflation. It means that they made a huge effort and that we can continue promoting a sector that generates a lot of labor, which has an impact on prices and in the lives of citizens,” Massa said in a meeting with directors of the Chamber of the Argentine Clothing Industry (CIAI) and other companies in the sector.
The previous agreement had been signed by the Ministry of Economy, the Federation of Argentine Textile Industries (FITA), and representatives of companies in the clothing industry, which implied a voluntary commitment to maintain the prices of products for a period of 60 days taking as a reference average values recorded in the month of October.
The agreement provided that, once this term had expired, the prices of the products would adjust for 90 days to the variation of the official exchange rate of the dollar.
“We have to try to find a balance between profitability, the need to maintain jobs, and prices that are accessible and fair for people to consume,” said Massa.
This agreement is part of the actions promoted by the Ministry of Economy with different industry and production players to create conditions that consolidate price ordering and the recovery and stabilization of the economy and the market.
In this sense, the Ministry of Commerce has already entered into agreements with different sectors such as the pharmaceutical, food and sports footwear industries to establish agreed increase guidelines.
