(Adds details about announcement, context on inflation in the
country)
Feb 13 (Reuters) - Argentina's economy ministry
announced on Monday a price control program to bring down the
cost of popular beef cuts amid ongoing high inflation.
During a press conference, an economy ministry official said
some popular cuts of meat would see prices drop around 30%.
In a separate statement, the ministry said the program has
been applied to seven different types of meat and will be in
effect until March 31, when a smaller price cut of 3.2% will
come into play until June 30.
"The average price at which supermarkets were selling
the (meat) cuts have been lowered by an average of 35%," it
added.
The announcement comes as the South American nation
faces one of the highest inflation rates worldwide, which is
expected to rise annually near 100% and to top 6% in January
alone.
Drought in the country has also forced beef prices up,
the ministry noted.
(Reporting by Carolina Pulice and Valentine Hilaire; Editing by
Isabel Woodford)
