After learning the latest inflation data for April (8.4%), Sergio Massa met with his cabinet to try to put a stop to price rises. With only three months to go until PASO, the government will report on Monday a package of measures aimed at promoting consumption and the level of activity.

The most relevant measure is that, within the framework of food inflation that climbed to double digits in April, it was decided to open the importation of fresh food and essential products. This will be done via the Central Market, which will import with zero tariffs. “Reduce the effective sale price to the public and defend the power of consumption of the people”, it stands out in that measure.

On the other hand, to encourage consumption at more conscious values, the rate of the Installment Plan Now 12 will be lowered by nine pointsa benefit that is granted only for national products, which seeks to generate more consumption and more sales from SMEs.

It was further provided set up a Trade Analysis Unit, which is made up of the Treasury, the Financial Information Unit, the General Directorate of Customs, the Central Bank, the Federal Administration of Public Revenues and the Secretary of Commerce. Its objective will be to monitor all external and internal trade operations.

In parallel, fixed term rates will rise six points to try to get savers to turn to the peso.

From Economy they also announced that progress is being made in agreements with China, with the International Monetary Fund and that Massa will travel to Beijing on the 29th of this month for the Brics meeting.