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Retailers and other sectors of Dominican Republic’s economy face critical times

Santo Domingo.-  Retailers and other sectors of Dominican Republic’s economy face critical times they affirm will hurt consumers’ pockets, by paying more for many products whose prices have jumped in recent months.

They said the prices in some provisions have jumped as high as 65% and have led to an around 20% fall in sales.

The merchants and SMEs grouped in Confederation said among the products whose prices jumped recently figure herring, from RD$63.50 per pound to RD$105, or 65 percent more; rice from RD$19 pound to RD$21, for an 11% increase; garlic, from RD$105 to RD$150 for an increase of 43%; cod from RD$125 to RD$140, a 12% increase, and red onion from RD$30 RD$32, or 7% more.

Confecomercio senior member Gilberto Luna, quoted by diariolibre.com, added that last year’s tax package and the dollar’s climbing rate have contributed to the increase in the price of staples. “That was basically what has contributed to the around 25% increase on these products as companies had to also readjust costs and therefore an increases on those products.”

Source: DT

Category: DR News |

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Last updated December 10, 2016 at 12:33 PM
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