UN body cautions Dominican Gov. on inflation
Santo Domingo .- “We see that there is an increase in the variation rates of the price indices. This suggests that this persistence of inflationary pressures may stay with us.”
The warning was made by the executive secretary of the Economic Commission for Latin America and the Caribbean (Eclac), Alicia Bárcena, who called on the countries of the region to implement measures aimed at reducing inflation, beyond increasing interest rates.
She recommended that Latin American nations maintain greater coordination between fiscal, monetary, exchange rate and macroprudential policies, conventional and unconventional, thus avoiding using a single instrument to control prices, which she labeled as counterproductive.
Bárcena referred to these terms when presenting this Thursday the report “Preliminary balance of the economies of Latin America and the Caribbean,” which includes the Dominican Republic as the second country in Central America where prices increased the most between August 2020 and the same month of 2021, with 7.9%, only surpassed by Cuba, which registered an inflation of 72.5%.