Argentina’s Falabella Index Suggests Macri Reforms Are Working

Source: Bloomberg
By: Charlie Devereux

The high prices of consumer goods are one of the most visible manifestations of the distorted economic policies that have prevailed in Argentina for decades. But one economist thinks he’s spotted early signs that the reforms implemented by President Mauricio Macri to open up the economy may be be starting to work.

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Federico Munoz has been following prices at Falabella, a Chilean-based retail giant with outlets across Latin America. While Munoz found that the price of 11 goods in Argentina’s Falabella ranging from electronic gadgets to clothes and cosmetics were 81 percent higher than the average price of the same items in Chile, Colombia and Peru, that’s a 27 percentage-point drop from when he measured the prices last August.


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