This Sunday, February 6, the Finance Minister Jose Manuel Restrepo, unveiled the government measures to counteract the high inflation registered in Colombia at the beginning of this year.
(Read: Inflation for January 2022, the highest in 23 years).
The National Administrative Department of Statistics (Dane) announced that by January 2022, the variation of the Consumer Price Index (CPI) was 1.67% and that of the twelve months was 6.94%.
According to the minister, the phenomenon of Inflation is a global issue not only Colombia, in fact the United States has a level of inflation higher than 7% and countries in Latin America register the figure of 8.4%.
The high variation occurs as a result of the pandemic that has generated a destruction of the productive capacity and difficulties in the logistics chain, in relation to containers, at an international level.
(Read: Banrep: raising interest rates to moderate the country’s growth).
In addition to this, Restrepo pointed out, the road blockages that occurred during 2021, attenuated the situation. And this generates not only the depletion of basic goods, but also altered production chains from various sectors, especially the food sector.
The official assured that the Government has been implementing measures to face the rise in prices. In the first place, with the normalization of monetary policy, a decision that the Banco de la República took in recent days.
According to the Minister of Finance, measures have also been implemented that allow the reduction of production costs, mainly in agriculture. Next week the Government plans to advance in the regulation of the Agricultural Inputs Law, which seeks to reduce these costs.
(Read: Food prices near record high).
Likewise, Restrepo indicated that, together with the Ministry of Commerce and Agriculture, they have been working on lowering the import tariffs of inputs in the food sector.
Measures are also planned in the production offer, which includes management among producers to expand the supply of some agricultural products. What will be brought up for consideration in the next National Potato, Dairy and Rice Council.
The Minister of Finance, José Manuel Restrepo, concluded that in order to improve the logistics chain, especially the port chain, and costs, the Ministry of Transportation will be worked on. New instruments of liquid in credits subsidized for Colombian agricultural producers.
(Read: Annual inflation was close to 7% at the start of 2022).
Without leaving aside, said the minister, hand in hand with Dane, the increase in the number of families, it is expected that there will be a million, linked to the program Solidarity Income and, through Sisben IV, serve the most vulnerable or extremely poor families.
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