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Argentina tries freezing prices to break 30 percent annual inflation spiral

Argentina is trying to break an inflationary spiral by freezing prices for the next two months on all products in the nation's largest supermarkets.

Commerce Secretary Guillermo Moreno reached the deal on prices with a trade group representing Walmart, Carrefour, Coto, Jumbo, Disco and other large chains. Together they represent 70 percent of the Argentine supermarket sector.

The government says consumers should keep receipts and call in complaints about any price hikes they see before April 1 to a hotline.

Polls show Argentines worry most about inflation, which private economists estimate could reach 30 percent this year. The government says it's trying to hold the next union wage hikes to 20 percent, a figure that suggests how little anyone believes the official index that pegs annual inflation at just 10 percent.