translated from Spanish: The agreement of prices will be tied to the price of the dollar

After the meeting that the Government had with “gentlemen” employers who participate in the agreement of prices, they ensured that the word Convention will remain “in the measure that will keep the economic variables”, mainly the dollar. Speaking after the meeting was Martin Cabrales, the owner of the coffee company that bears his name. >

In that sense, the entrepreneur considered ‘good’ agreements, although he explained that they are not a tool to lower inflation if not “measures short-term to contain the fall in consumption and that people who have less access to food”. While the Government froze the ceiling and the floor of the banda cambiaria, at 51,50 $, and $39.75 – who a month ago announced would increase at a rate of 1.75% per month – in order to buy when you reach $52, entrepreneurs will keep prices if not the dollar goes up. It is the own Cabrales confirmed that last week had announced the Minister of Hacienda Nicolás Dujovne, that the agreement will be “a gentlemen’s agreement” and that “there is nothing signed”. Despite that, in the decree that came out today in the Official Gazette of fair trade, will provide for penalties of up to 200 million pesos and clasuras up to 30 days who does not comply with the agreements.

Original source in Spanish