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Panama to extend food price controls

Thursday, December 18, 2014

Panama will extend by six months food price controls on 22 basic products in an effort to keep inflation low and boost the purchasing power of lower-income shoppers, the government said.

President Juan Carlos Varela authorized the initial controls after taking office in July. The move was widely seen as an attack on his predecessor Ricardo Martinelli, a one-time ally turned antagonist, who owns one of Panama's largest supermarket chains.

Source: Reuters