What the government will do to curb inflation
Given the worrying rise in the prices of necessities, President Luis Abinader reported that the State would continue to subsidize some products to curb inflation.
“In the government we have to continue subsidizing so that it does not become an inflationary effect,” said Abinader at the working table due to the international price crisis, together with his Economic Cabinet and business representatives.
Economy Minister Miguel Ceara Hatton indicated that the main factors that justify inflation are:
- Price increases of the primary raw materials (commodities).
- Adverse factors in international means of transport via freight.
- The price movement reflects the increase in global aggregate demand and is a short-term phenomenon until inventories are replenished.
- There are no structural factors of domestic policy that create inflation other than those inherent to the recovery.
Central Bank Governor Héctor Valdez Albizu said that the current crisis is imported during his speech, so it will not last long.