Cocco on prices

[NewsWhore]

Director of the Customs Department, Miguel Cocco, is surprised that the prices of goods haven't decreased after the elimination of tariffs, the elimination of the exchange rate commission, increased transparency in Customs declarations, and increased stability in the exchange rate. Quoted in Listin Diario, Cocco said that there is no justification for prices not falling. He said that after all that has been done there is no reason for prices to continue as high as they are. Cocco said that he hopes that the world market will oblige what he called "monopolies" to reduce prices. Cocco continued by saying that prices should fall in the import market because of the strength of the market. The Customs director added that he believes that the only way to really reduce prices is by creating competition. Importers claim that the Customs Department increased the appraised values of goods, thus increasing the base upon which goods are taxed.

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