Argentine President Kirchner Warns Companies Not to Raise Prices

Argentina’s President Nestor Kirchner warned private companies not to raise prices and blame workers’ wage demands, saying the whole country needed to work together to move Argentina forward. Argentine inflation has been accelerating, to 11.5% in February, and pay demands are on the rise, raising fears it could spiral out of control. The Kirchner administration has responded by imposing price controls and banning exports of meat to keep prices down even as his administration expands spending. Argentine officials say they reject traditional policy prescriptions for sustained growth, and point to three years of growth as proof unorthodox policies are working.