News of prices

OPINION AND ANALYSIS

The oil shock of 2020 appears to be here – and the pain could be wide and deep

16-03-2020 10:53 The world is again undergoing an oil shock. This is a big deal, not only for the global economy, but for geopolitics, the future of transport and efforts to mitigate climate change.

VIRUS outbreak

Fed cuts half point in emergency move in reaction to Coronavirus

03-03-2020 14:54 US Federal Reserve announces emergency rate cut, responding to the growing economic risk posed by the coronavirus epidemic and giving President Trump the stimulus he has called for.

'TARIFAS'

Government likely to increase utility rates in June, says Cafiero

20-02-2020 16:16 Government will unfreeze public services rates starting from June, but increases will only hit “the sectors that can support them,” says Cabinet chief.

BLOOMBERG - LONG READ

Venezuelan emigrants return as Maduro embraces capitalism

07-02-2020 15:18 After leading his country’s economy over a cliff, President Nicolas Maduro has brought it a certain measure of stability. By allowing dollars to flow freely and private enterprise to flourish in recent months, he seems to have breathed new life into his regime.

FUEL PRICES

Government extends fuel price freeze until end of February

30-01-2020 13:38 Fernández administration to retain restrictions until the end of February in order to curb inflation.

ECONOMIC INDICATORS

53.8%: Argentina posts the highest inflation rate in 28 years

15-01-2020 17:51 INDEC reveals prices last year increased by the highest rate since 1991, with inflation in December coming in at 3.7%.

ECONOMIC MEASURES

Kulfas praises businesses as government re-launches Precios Cuidados

08-01-2020 17:46 Government re-launches price-controls scheme with a list of 310 items, which includes "leading brand" products "at reasonable prices," according to officials.

PRICE RISES

Prices to rise 7% on average as IVA restored to basic food items

02-01-2020 18:13 Milk will not rise, however. Some basic food items have been exempt from IVA since Mauricio Macri scrapped the taxation last August, following his catastrophic results in the PASO primary to Alberto Fernández.

PROTESTS IN ECUADOR

Ecuador's president agrees deal with indigenous to end protests

14-10-2019 11:58 Ecuador celebrated a deal President Lenín Moreno and indigenous leaders struck late Sunday to cancel a disputed austerity package and end nearly two weeks of protests that have paralyzed the economy and left seven dead.

ECUADOR IN CRISIS

Clashes at protests in Ecuador over fuel price hike, oil facilities seized

08-10-2019 09:26 President Lenín Moreno accuses predecessor and ex-ally Rafael Correa and Venezuelan leader Nicolás Maduro of an "attempted coup d'état." Government business temporarily moved to the port city of Guayaquil.

PROTESTS

Ecuador's declares state of emergency after clashes over fuel prices

04-10-2019 09:17 Clashes broke out between protesters and police in Ecuador after President Lenín Moreno declared a state of emergency Thursday following demonstrations against rising fuel prices due to the government scrapping subsidies. Moreno's measure allow the government to restrict movement, to employ the Armed Forces to maintain order and to censor the press.

ECONOMIC MEASURES

Government rises petrol prices in wake of Saudi Arabia attack

18-09-2019 22:27 Four-percent increase in the price of petrol authorised, a month after Macri administration ordered them frozen for 90 days.

OIL PRICES

Oil prices rocket as drone attack slashes Saudi output by more than half

16-09-2019 11:46 Oil prices saw their biggest daily gain since the 1991 Gulf War on Monday after weekend drone attacks on two Saudi oil facilities halved output in the world's top crude exporter, fuelling fresh geopolitical and growth fears.

ECONOMIC INDICATORS

New Central Bank survey predicts 55% inflation in 2019

04-09-2019 09:46 GDP anticipated to contract by 2.5% this year, survey of economists and consultancy firms reveals.

FEDERAL ECONOMIES

Macri’s post-PASO measures meet with resistance from provinces

24-08-2019 09:25 Opposition governors claim measures are unconstitutional in statement. Oil-producing provinces go to Supreme Court to challenge emergency decree freezing fuel prices for 90 days.

Cost of living

YPF, Shell raise consumer petrol prices by over 2.1%

02-07-2019 15:41 Argentina's state-owned oil company YPF and competitor Shell increased their consumer petrol prices by 2.5 and 2.1 percent respectively this week.

COST OF LIVING

Experts raise forecasts as inflation soars

20-10-2018 08:36 Analysts predict annual rate will come in over 45%, casting a shadow over President Macri’s re-election hopes.

UTILITIES AND TARIFFS

Government U-turns on gas tariff decision

13-10-2018 10:19 Survey: 75% of residents in metropolitan area of Buenos Aires consider gas prices "unpayable".

Political hypocrisy

Austerity can’t be Macri’s only solution

02-06-2018 09:00 It was pathetic to hear former president Cristina Fernández de Kirchner listing the economic successes of her administration, and Pichetto —traditionally centered and pragmatic — showing his true colours, taking advantage of the spotlight for electoral gain.

by Agustino Fontevecchia

Tarifazo tensions

Macri’s veto lays down law on tariff hikes

02-06-2018 08:11 President strikes down opposition-sponsored bill placing curbs on prices of electricity, gas and water, citing a need for fiscal discipline. Cabinet Chief Marcos Peña calls downed legislation ‘irresponsible.

RISING COST OF LIVING

Prices: Reprieve for gas, 'subte' users as gov’t faces rising pressure

08-05-2018 09:53 A City court has posponed a hike to 'subte' underground fares while Energy Minister Juan José Aranguren wants oil companies to implement a two-month price freeze.

FOLLOWING PUBLIC HEARING

Confirmed: Consumer gas prices to jump 30-40% from April

28-03-2018 10:28 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.