The decision to further reduce subsidies on household gas consumption is expected to push the cost of living in Argentina up by 8.5 percent.
Consumer gas prices in Argentina will rise 30 to 40 percent from April, the Energy Ministry confirmed Wednesday.
The rate hike will come into effect from April 1 following a public hearing process that saw gas distributors pushing for a hike of up to 58 percent.
The adjustment is, in effect, a reduction in energy subsidies and forms part of the government’s medium-term plan to fix energy prices closer to real production costs.
The decision is expected to push the cost of living in Argentina up by 8.5 percent.
In a separate announcement today, the INDEC statistics bureau will release data that suggests the rate of poverty in Argentina has declined.
President Mauricio Macri will accompany the presentation with a brief statement to be made from the Olivos presidential palace in the afternoon.