Q24N (Prensa Latina) Argentine Minister of Production Francisco Cabrera confirmed today the increase up to 500% of water supply, up to 300% of gas and from 70% to 150% in transportation.
According to the newspaper Pagina 12, Cabrera used the euphemism of “normalization of the economy” to confirm the readjustment of prices in the first half.
In a speech during the meeting of the Banco Interamericano at the Hyatt Hotel, Cabrera promised that following this huge increase of prices from August to September the process of economic normalization led by the government of Mauricio Macri will end and he said that thereafter inflation rates will begin to fall.
According to Cabrera, the exorbitant increase will only have an impact on inflation during the first month, because these increases are not linked to relative prices.
Recently, Energy Minister Juan Jose Aranguren said that the Government would raise the gas price, and did not rule out further adjustments in electricity.
A few weeks ago, Mauricio Macri’s management announced a 300% increase in electricity service.