BUENOS AIRES, April 17 (Xinhua) -- The Argentine government announced a series of economic measures on Wednesday to seek to contain inflation, after it rose by 11.8 percent in the first quarter of the year.
Among the measures announced is the suspension of new increases in public service rates, as well as price freezing for a number of basic products.
Argentine President Mauricio Macri confirmed in a video released by the government on Wednesday that the measures are intended "to generate relief and give new tools" to the population.
The economic package, presented in an eleven-page document, includes an agreement with leading business leaders to maintain the price of 60 basic products for at least six months.
It also rules out new increases in government-related public services for the current year.
The announcement also included an agreement with the meat industry for the weekly sale of 120 tons of cuts such as "roast, flank steak, and matambre," all highly consumed in Argentina, at a price of 149 pesos (3.46 U.S. dollars) per kg in the Central Market of Buenos Aires.
Additionally, it provides benefits for small and medium-size enterprises and for vulnerable populations. It also discussed an extension of loans authorized by the National Social Security Administration (Anses).
"These are a set of things that we know are a relief. I am convinced now more than ever: we are going to win the battle (against inflation), we are going to defeat it, and that is going to give us strength to continue with the other battles," Macri said in the video.
The National Institute of Statistics and Censuses (INDEC) released a report on Tuesday saying that the inflation rate rose by 4.7 percent in March compared to February, with an accumulation of 11.8 percent in the first quarter of 2019.
