He argued that everything is going to go up, because everything needs fuel, and the rise in transportation prices means that other services have to increase their rates.
Economist Ernesto Bazán warned this Tuesday on Radio Panama that our country will go through a rise in prices and services, after the Russia-Ukraine conflict, for which he recommended preparing ourselves.
He added that we are beginning a price escalation, which is initially focused on oil, gasoline and food. “Ukraine and Russia together are one of the world’s leading producers,” he stressed.
“When the price of wheat goes up, all other foods go up in general and vice versa. In the case of Panama we have that the tariff formula for electricity has an automatic update factor to the variation in the price of fuel; In addition to the fact that the price of food and gasoline is rising, we are going to receive the electricity bill for every month much more expensive than normal, “said the expert.
He argued that everything is going to go up, because everything needs fuel, and the rise in transportation prices means that other services have to increase their rates.
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