The price of fats and oils groceries decreased 5% this week, according to Victor (Ito) Bisono, head of the Ministry of Industry, Commerce and Mipymes (MICM).
The official assured that other products of the basic basket will continue to drop in this month.
The official gave the news prior to the swearing-in ceremony for the new directive of the National Council of Merchants and Entrepreneurs of the Dominican Republic (Conacerd), which took place this Thursday at the premises of the Santo Domingo Wholesalers Association.
Bisonó added that the costs of paints and PVC pipes fell by 10% this week and explained that the reduction is due to the subsidies and facilities that the Government has given to the construction sector.
He announced that they will meet with businessmen to review the prices and apply reductions.
He indicated that the national production has supplied the market demand and valued the stability that exists in the country.
The ministry reported that in April it signed an agreement with the National Institute for the Stabilization of Prices (Inespre) that involved the delivery of 60 million pesos for the purchase of oil destined for the most depressed sectors of the population. The measure is part of the subsidy plan that the government of President Luis Abinader executes to mitigate international inflation.
