The Government announced this Thursday the main characteristics of the Fair Prices program, which will launch on Friday and will cover 1,500 products made by a hundred companies for a period of 120 days.
From the Ministry of Economy they clarified that it is not a price freeze but “a voluntary agreement between the State, mass consumption companies, wholesale chambers and supermarkets.”
With the aim of “achieving price stability for essential products consumed by Argentine households”, Fair Prices aspires to keep the prices of 1,500 products in the food, beverage, dairy, personal hygiene and cleaning categories constant, according to the official explanation.
The agreement states that “The products that will remain with fixed prices enter the program at a price up to 4% higher than the average registered during October 2022 and will remain stable for the next 120 days”.
The rest of the products sold by the companies that join the program will have a monthly increase guideline of up to 4% for the same 120 days in the sale price to supermarkets and wholesalers.
Within this framework, the national State grants guarantees and certainty in the process of importing intermediate goods, finished goods that are part of the value chain, and supplies for the companies that participate in the program.
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One hundred companies participate in the agreement
About a hundred companies participate in the agreement, which represent 86% of mass consumption in the country and among which stand out Molinos, Coca Cola, Unilever, Quilmes, Mastellone, AGD, Ledesma and Las Marías, among others.
“In addition, supermarkets will be able to supply their own brand products,” it was indicated.
How to consult the products and affiliated businesses
Consumers will be able to consult the products and commercial chains adhered to the program by entering here starting this Friday or through a mobile application, available on Android and IOS, in addition to two chatbots for the retail channel (+54 9 11 2879 0887) and the wholesale channel (+54 9 11 2524 4728).
program details
What Fair Prices?
Fair Prices it’s a voluntary agreement for 120 days between the National State, companies that supply mass consumer goods and supermarkets to maintain constant prices for more than 1,500 products in the food, beverage, dairy, personal hygiene and cleaning categories.
How will it be done?
The agreement consists of two axes: On the one hand, the products that will remain with fixed prices enter the program at a price up to 4% higher than the average registered during the month of October 2022 and will remain stable for the next 120 days.
On the other hand, the rest of the products sold by the companies that join the program will have a monthly increase guideline of up to 4% for the same 120 days in the sale price to supermarkets and wholesalers.
In turn, the State grants guarantees and certainty in the process of importing intermediate goods, finished goods that are part of the value chain and supplies for the companies that commit to this price agreement.
What is the purpose of the measure?
The objective of the measure is to achieve price stability for essential products consumed by Argentine households for a given period of time.
How long will the measure last?
It will be for 120 days from the signing of the agreements.
Which companies participate in the agreement?
About 100 companies that represent 86% of mass consumption in Argentina. Some of those participating are Molinos, Coca Cola, Unilever, Quilmes, Mastellone, AGD, Ledesma and Las Marías, among others. In addition, supermarkets will be able to supply with their own brand products.
How many products does Fair Prices have and what items does it cover?
Contains more than 1500 products at a fixed price warehouse, dairy, cleaning, perfumery, personal care and hygiene, baby items, fresh produce and beverages.
In what kind of stores can Fair Prices be found?
Consumers will be able to find the program’s products on the shelves of retail and wholesale supermarkets.
How do I identify the products in the supermarket?
The Secretary of Commerce made a Specific signage of Fair Prices so that supermarkets clearly and precisely indicate which products are covered by the measure. It will be visible on supermarket shelves.
Where can you consult the products, prices and affiliated businesses?
In the official program page.
In addition, the Secretariat makes other channels available. In the Fair Prices application (available on Android and IOS) consumers will be able to track products. The app allows:
1) Scan the barcode of a product and know if it is within the agreement.
two) Know the list of products with Fair Prices.
3) Report noncompliance with the program.
Is there another consultation channel?
The program also has two chatbotsone for inquiries about the retail channel (+54 9 11 2879-0887) and another for inquiries about the wholesale channel (+54 9 1125244728).
The chatbot with information on the retail channel is designed for consumers and the chatbot with information on the wholesale channel is designed for small merchants (stores, supermarkets, etc.).
What will happen to Care Prices?
From the signing of these agreements, Fair Prices absorbs the products included in Care Prices.
Is it a price freeze?
It is a voluntary agreement between the State, mass consumption companies, wholesale chambers and supermarkets.
Is the program going to be applied throughout the country?
Yes
Supervision and verification of compliance
How will the verification system be?
Within the framework of control operations to corroborate compliance with national agreements, the Ministry of Commerce will sign agreements with mayors and mayors to strengthen the monitoring. In this way, the number of inspectors is expanded throughout the country.
The Secretariat will give the municipalities the technical guidelines and the necessary training to carry out the inspections and then the sanction process will be carried out through the usual mechanisms carried out by the Undersecretary of Actions for the Defense of Consumers.
These agreements will be replicated with different municipalities throughout the country to reinforce the federal character of the measure. In turn, the Ministry of Commerce will transfer to the corresponding local authority 25% of the proceeds from fines made in each district..
In addition, in order to guarantee compliance with the agreed price guideline, the Ministry of Commerce will continue to monitor price variations on a daily basis through the Argentine Electronic Price Advertising System (SEPA).
Monitoring for compliance with the agreement
Within the framework of control operations to corroborate compliance with national agreements, The Ministry of Commerce will sign agreements with mayors and mayors to strengthen monitoring, in order to expand the number of inspectors throughout the country.
The Secretary of Commerce will give the municipalities “the technical guidelines and training necessary to carry out the inspections and then the sanction process will be carried out through the usual mechanisms carried out by the Undersecretary of Actions for the Defense of Consumers”, clarified the department led by Matías Tombolini.
The agreements “will be replicated with different municipalities throughout the country to reinforce the federal character of the measure” and in turn, Commerce specified that “it will transfer to the corresponding local authority 25% of the proceeds from fines made in each district.”
In order to guarantee compliance with the agreed price guideline, the Secretariat will continue to monitor price variations on a daily basis through the Argentine Electronic Price Advertising System (SEPA).
Last night, Economy Minister Sergio Massaanticipated that on Friday the program of Fair Prices that “represent more than 100 companies that bring together 86% of mass consumption.”
Massa, in a report with the TN news channel, stressed that this system works “in agreement with the entire value chain, from companies to supermarket chains and with a guarantee of supply.”
“There are 1,400 fixed prices and in the rest of the production it was established that prices will be maintained for 4 months with 4% increases,” the minister emphasized.
From the business sector, the president of the Argentine Industrial Union (UIA) and head of the Coordination of the Food Products Industries (Copal), Daniel Funes de Rioja, confirmed that the national government summoned the companies in the sector to advance in a price agreement, with the aim of lowering inflation.
