Cuba caps prices of basic household items to counter high inflation

(9 Jul 2024)
RESTRICTION SUMMARY:

ASSOCIATED PRESS
Havana, Cuba – 9 July 2024
1. Various of people buying chicken at capped prices in a private store
2. SOUNDBITE (Spanish) Yaquelín Sanchez, State employee:
"The government is doing well to cap some prices because we have many needs. I believe that small and medium enterprises, which are today helping and assisting (the government in) the supply process in Cuba, must have price caps because otherwise the salary one receives does not cover what is on offer."
3. Board displaying new chicken prices
4. Various of sunflower oil and pasta on display with new prices
5. SOUNDBITE (Spanish) Yosbel Serrú, Administrator for business exporting and importing food:
"The elderly can buy at least a pound of chicken as can people with a lower income."
6. Various of people on the street begging
7. Various of Alfredo Carbajal preparing and cooking pizzas
8. SOUNDBITE (Spanish) Alfredo Carbajal, employee in private cafeteria:
"The prices are exaggerated, it is too much, for me and for everyone. Inflation is very high."
9. Various of people buying vegetables from street vendors
STORYLINE:
Cuban authorities have put a price cap on certain essential food products, a measure aimed at lowering inflation.

Products often lacking in state-run stores are available in private stores that have recently spread across the country at inflated prices.

On Tuesday, several of the stores visited by The Associated Press were already displaying the new prices on their shelves.

"The elderly can buy at least a pound of chicken as can people with a lower income" said Yosebel Serrú who runs a business which imports and exports food in the country.

According to the Ministry of Finance and Prices, the limited products with capped prices include chicken, vegetable oil, powdered milk, sausages, pasta and powdered laundry detergent.

At the same time, the Ministry assured that private small and medium-sized food importing and selling companies will be exempt from paying customs tax on imports.

"The government is doing well to cap some prices," Yaquelín Sanchez, a 37-year-old state employee, told The Associated Press.

Subjected to its worst economic crisis in decades, Cuba officially registered inflation of 70% in 2021, 39% in 2022 and 30% in 2023. But experts indicate that these figures are far from the real figures.

AP video shot by Ariel Fernandez and Milexsy Duran

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