NewsWhore
11-08-2011, 02:40 PM
The president of the Traders and Business Federation, Antonio Cruz Rojas, says that there has been an increase in the prices of most items of mass consumption over the last two months, and some traders have already announced an increase in the price of onions due to a growing shortage. Coffee prices have gone up by as much as 17%. A brief visit to some stores by Listin Diario reporters showed that eggs were up by as much as 25% (RD$4 to RD$5 each), and a large, 30lb tin of cooking oil has gone up from RD$900 to RD$1,050, a 17% increase.
Cruz Rojas said that rice prices have also gone up because of increased production costs, not because of any shortage in the market. He also reported that even brown sugar, the semi-refined version, has gone up by 33% in the last two months. Cruz noted that the increase in dollar-peso exchange rate (now at 38.25 - 1 in many places) has affected the prices of articles of mass consumption. "Although these items are part of the national production, the products used in their production are paid for in dollars and this raises the production costs," he said.
More... (http://www.dr1.com/index.html#8)
Cruz Rojas said that rice prices have also gone up because of increased production costs, not because of any shortage in the market. He also reported that even brown sugar, the semi-refined version, has gone up by 33% in the last two months. Cruz noted that the increase in dollar-peso exchange rate (now at 38.25 - 1 in many places) has affected the prices of articles of mass consumption. "Although these items are part of the national production, the products used in their production are paid for in dollars and this raises the production costs," he said.
More... (http://www.dr1.com/index.html#8)