NewsWhore
01-11-2011, 02:30 PM
As people gradually got back into working mode after the long holiday break, the reality of price hikes has begun to sink in, mainly a consequence of the fuel price increase.
El Caribe reports that public transport fares are up 15% (from RD$15 to RD$20 for short routes), 11% increase in electricity rates, increases in freight charges, propane gas, gasoline and diesel. Diario Libre reports that mortgage interest rates increased by 2% for this year, from 12.95% to 14.95%.
Meanwhile, Labor Minister Max Puig appealed for an increase in wages saying that no one can make do on the minimum wage, but Fernando Capellan, speaking as a businessman, responded that instead of increasing wages ways would have to be found to reduce costs. He said that if wages were increased, thousands of employees would find themselves out of work. Capellan is president of the Dominican Confederation of Small and Medium-sized Companies (Codopyme) but said he was speaking in a personal capacity because the association had not met to issue a group statement, as reported in Hoy.
More... (http://www.dr1.com/index.html#7)
El Caribe reports that public transport fares are up 15% (from RD$15 to RD$20 for short routes), 11% increase in electricity rates, increases in freight charges, propane gas, gasoline and diesel. Diario Libre reports that mortgage interest rates increased by 2% for this year, from 12.95% to 14.95%.
Meanwhile, Labor Minister Max Puig appealed for an increase in wages saying that no one can make do on the minimum wage, but Fernando Capellan, speaking as a businessman, responded that instead of increasing wages ways would have to be found to reduce costs. He said that if wages were increased, thousands of employees would find themselves out of work. Capellan is president of the Dominican Confederation of Small and Medium-sized Companies (Codopyme) but said he was speaking in a personal capacity because the association had not met to issue a group statement, as reported in Hoy.
More... (http://www.dr1.com/index.html#7)