Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (45019)	1/23/2006 12:38:34 PM
From: shades	Respond to of 116555

DJ CORRECT: Argentina, Procter & Gamble Agree Price Freezes . U.S.-based consumer products giant Procter & Gamble Co. (PG) on Monday became the latest private company to sign an agreement with the Argentine government to freeze prices in the country. (A story published at 1512 GMT misspelled Procter & Gamble's name throughout.) thedailyjournalonline.com Kirchner presses price controls BUENOS AIRES, Argentina – President Néstor Kirchner is re-portedly stepping in to pressure supermarkets to freeze prices amid concerns that inflation, for decades a chronic problem, is returning to the country. Kirchner met Tuesday with Alfredo Coto, owner of Argentina’s main chain of supermarkets, and suggested that his stores maintain a 180-day price freeze on 500 basic products, local media reported Wednesday. Government spokesmen declined to divulge Coto’s response. Last month, Economy Minister Felisa Miceli reached an agreement with the supermarkets to reduce the prices of about 220 basic products by 15 percent. That agreement expires at the end of January, but the government is seeking to possibly renew it through December. Economy Ministry officials were also reported to have had meetings and telephone discussions with leaders of key agribusiness and food processing companies to seek price agreements. Price increases continued in December, a traditionally “inflationary” month, especially in the price of cattle meat, a basic Argentine food. Last year inflation climbed to 12.3 percent, doubling the statistic of 6.1 percent in 2004 and quadrupling the 3.7 percent figure in 2003. Despite critics in conservative sectors who have predicted a failure in any attempt to control prices, Kirchner has ruled out using any “orthodox solutions” to control inflation. He regards as such any measures to “cool down” economic activity, discourage consumption or in-crease interest rates. Kirchner and Miceli have said the principal motive of the price increases is strong demand be-cause of the improving social and economic situation. But that has not been accompanied by a simultaneous increase in product offering because of the insufficient increase of investments. Argentina’s economy has been steadily recovering from the collapse of its currency in December 2001. AP