Ana Uzcátegui | THE PRESS OF LARA.- “In Venezuela the product prices which are marked in Dollars they also increase. “That is the perception that Vanessa Villegas, baker, has when noting that if in June with a dollar He had enough to buy a kilo and a half of artisanal flour, now with that same amount he can only pay for a kilo. Citizens are experiencing the loss of purchasing power that the US currency is having in the face of the galloping hyperinflation that is in the midst of a pandemic.
Yoanlith Noguera, a student, said that in May she could make a market with 10 dollars who stretched it out to eat for herself and her mother for a week. “You bought the essentials, a kilo of meat, a kilo of chicken, cheese, a flour. Bread, oil, eggs, rice and pasta. Yesterday I went to buy the same amount of dollars and I couldn’t pay for the oil.
He economist Jesús Casique, detailed that although citizens consider that merchants are speculating with the dollar, what happens is that prices are increasing significantly due to hyperinflation.
“In Venezuela there is no inflation in dollars, that is a myth. The exchange rate has been increasing significantly as a result of a series of variables. In the first place, economic agents seek coverage against a bolivar I stay pulverized. Secondly, the State violates article 320 of the Constitution that prohibits the Central Bank of Venezuela (BCV) from financing public spending by issuing money, thirdly, the increase is Monetary liquidity“he expressed.
All these factors influence that prices in bolivars increase and that they are required more dollars to buy the same products from a month ago, a phenomenon that in economy is called “appreciation of the real exchange rate”.
Consulted also reported that downtown businesses are setting an exchange rate even lower than that of the BCV, which closed on Friday 241.970,78, In front of a parallel dollar that this week came to 265.289.
“They are usurers, sometimes they say that they accept payments in dollars 100,000 bolivars below what the Monitor Dollar portal marks, I prefer not to buy anything,” said Damaris Cuicas.
They speculate in quarantine
He economist Naudy Pereira indicated that after the application of scheme 7 + 7 quarantine, has been registered in the trade sector speculation in some products, driven by the fact that a large part of the establishments have to undergo a stoppage two weeks a month due to the radicalization imposed by the national government.
“In economics there is a concept that is the inertial inflation, when the merchants observe how the prices have increased, and to that extent the prices of the products increase because in turn their production costs increase. As long as the exchange control is not removed, dollarization sometimes excessive will remain. A flexible exchange rate of free convertibility is needed, or else Venezuela will continue presenting high levels of inequality, with more misery and social problems, “she said.
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