ECLAC is concerned about inflation in the country

Santo Domingo, DR

The Central Bank (BCRD) reported that the monthly variation of the consumer price index (CPI) in December 2021 was 0.73%, placing year-on-year inflation, measured from December 2020 to December 2021, at 8.50%.

While the upward trend in prices exceeds the programmed goal of the central banks and is expected to continue in subsequent years in a heterogeneous way, the executive secretary of Cepa, Alicia Bárcena, assures that at present the main risk is inflation, because it affects the purchasing power capacity of the poorest households.

According to a publication in the newspaper HOY, the executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC) suggested that the country widely use monetary policy tools and coordinate fiscal and sectoral policies. According to the publication, Bárcena considers it vital that the DR has control of inflation, seeking that it has the least social impact, since it showed a significant upturn in 2021, which affects families with fewer resources to a greater extent.

“Social policies and pro-employment policies are key this year to continue promoting economic recovery, as well as particular support for the sectors that were most affected by the pandemic, such as the tourism sector,” he said.

The BCRD reiterated that the evolution of domestic prices has been impacted by the situation in international trade markets, which has generated bottlenecks in supply chains, combined with substantial increases in container rates and global freight rates. ntices and other raw materials.

El Listín editorialized yesterday that “Austerity prevails” in a perfect storm scenario.

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