Inflation is a variable that is severely affecting the Dominican people in relation to the growth in the quality of life, the senator assured today Jose del Castillo Saviño.
The congressman lamented that currently the level of inflation is reaching 10%, despite the encouraging growth figures presented by the central bank.
“Just as we grew by 5.6%, we have an accumulated inflation of 9 and so many percent, when the goal established by the central bank it is more or less 4%, and last year we ended up with an inflation of 8.76%”, said Del Castillo.
He added that inflation is higher in the segments of goods and services that are consumed more by the poorest quintiles of the economy, which are food, transportation and the cost of housing.
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He stated that to this must be added the increase in the prices of oils, edible fats, soy, corn, wheat, chicken, egg, as well as fertilizers and agricultural implements, without leaving out the increase in materials in the construction sector.
The congressman of Dominican Liberation Party (PLD)warned that, although he does not question the figures issued by the Central Bank in relation to the 5.6% growth in the economy that it gave in the first quarter, “without a doubt there is an affectation of the quality of life of Dominicans, because the salaries that they accrue have not increased in the same proportion and magnitude as inflation has presented”.
“We do nothing with economic growth, if the government headed by President Luis Abinader does not control inflation,” he assured.
Although he acknowledged that the central bank is doing an effort to increase the interest rates, which takes money out of the economy, so that the lower the money supply, the less capacity there is. the demand for goods and services in the country.
