Retailers complain of slower sales

[NewsWhore]

Retailers in Santo Domingo and other cities are complaining about a general slowdown in their sales, caused by higher gasoline and food prices. Hoy newspaper says that traders are reporting lower sales of phone cards and beer in an attempt to compensate for the higher prices of other goods and foodstuffs. Rafael Polanco, the president of the Gasoline Retailers Association (Anadegas), said his membership is reporting declines of 5% and 10% in regular fuel sales, although the sales of premium fuels, both gasoline and diesel, have increased because the people who buy these fuels have more money. Polanco uses the motorcyclists as an example. They compose 49% of the nation's vehicular fleet, and consume regular gasoline. Fausto Figuereo, head of the National Food Traders Federation told reporters that most products have increased in price by 20% to 30% since January and this has been reflected in a decrease in sales. He said that while the cash flow has remained the same the amount of product has been reduced. He mentioned the case of a 125lb bag of rice that cost RD$1,800 in December and which now costs RD$2,200.

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