Saturday, April 23, 2016

Government Announces Reduction In Basic Good Prices as of Friday

Government Announces Reduction In Basic Good Prices as of Friday / 14ymedio

14ymedio, Havana, 21 April 2016 — The Cuban government has announced a
reduction in prices of food and other basic products sold in stores in
Cuba convertible pesos (CUC) and Cuban pesos (CUP). The measure, which
comes at a time of growing popular discontent over the rising cost of
living and shortages, takes effect Friday in the state retail sales network.

A note read on Cuban TV primetime news on Thursday, announced that sales
of products such as toilet paper, milk, soap, peas, toothpaste, chicken,
corned beef, cookies, instant soft drinks and seasonings, will range
from 20 centavos to 2 Cuban convertible pesos.

The move comes a few days after the conclusion of the 7th Congress of
the Communist Party and seek to gradually increase the purchasing power
of the Cuban peso in the short term, said the official note.

The text clarifies that the price cuts respond to the Central Report of
the party conclave where Raul Castro reiterated that "wages and pensions
are still insufficient to meet the basic needs of the Cuban family."

The regulations provide for a decrease of 6% in the retail price of
chicken sold in boxes using a single price in the so-called Hard
Currency Collection Stores (TRD) managed by the Ministry of Domestic
Trade (MINCIN). The product will experience a drop from 7 to 5 CUC per

The so-called "cold light" fluorescent lightbulbs, will also benefit
from a 40% discount, dropping from 1.00 CUC to 0.60 CUC while the
popular floor mops for household cleaning, will cost 20 cents less.

Among the products most in demand that will have a new price is cooking
oil, which will drop from 2.40 CUC a liter to 1.95 CUC.

Among the main complaints of the Cuban population are the high prices
that do not correspond to salaries. As reported in the last session of
the National Assembly, which met last December, the average monthly wage
in the country was 640 pesos, the equivalent of $26 (US) or 26 CUC.

The digital site CiberCuba published the list of prices that will be
effective this Friday which appears under the logo of the Ministry of
Finance and Prices, although the official announcement said that the
list will only see the light this Friday.

The announcement includes the price controls that have been implemented
at a growing number of agricultural markets since the beginning of the
year. A measure that has not managed to reduce popular discontent.

From the early hours of Thursday afternoon the rumor had spread
through Havana's neighborhoods and customers delayed their purchases to
benefit from cheaper food which comes into effect tomorrow.

However, the "definitive" solution to the "complex reality" of prices
will only be achieved with "increased productivity and efficiency" in
the national economy, explains the official note.

Source: Government Announces Reduction In Basic Good Prices as of Friday
/ 14ymedio – Translating Cuba -

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