Economy

Argentina freezes prices for pay-TV, internet and mobile services until December

Inflation in Argentina is at 42% annually and the country faces an economic contraction deepened by lockdowns

Argentina's President Alberto Fernández.
Argentina's President Alberto Fernández. Photo: Pagina12/Screenshot
  • Providers won’t be able to increase prices without government approval;
  • Prices on such services had been frozen since May, but the decree was set to expire at the end of August.

Argentina has extended a price freeze for pay-TV, internet and mobile services until the end of 2020, deeming them “essential public services.”

The freeze means providers won’t be able to increase prices without government approval, according to a statement sent on Friday. Prices on such services had been frozen since May, but the decree was set to expire at the end of August, informed Bloomberg.

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Inflation in Argentina is at 42% annually and the country faces an economic contraction deepened by lockdowns aimed at containing the spread of Covid-19. Argentina has already frozen prices on 2,000 consumer goods it also deems essential.

“As we face the restrictions the pandemic imposes on us, nobody should have to give up part of their income to cover price hikes on those services,” President Alberto Fernandez said in a tweet Friday night that followed the announcement. “We’re guaranteeing access for everyone.”