Food basket prices to adjust
PANAMA. To fulfill the campaign promise to lower the cost of the basic food basket (CBF), the government has taken strong measures to l...
PANAMA. To fulfill the campaign promise to lower the cost of the basic food basket (CBF), the government has taken strong measures to lower energy prices and import tariffs.
Roberto Enriquez, head of the Commerce Ministry, projects that the effect of government measures will be felt on the food basket by the end of the year.
Henriquez said that market adjustment does not happen in weeks; it will take approximately two or three months.
Agro organizations have opposed the price decrease on tariffs.
Henriquez says the intention of the reduction is to make local producers more efficient, more competitive and above all to benefit the consumer.
The price of the food basket reached $266.44 in July, increasing by $0.24 from the previous month.
Fruits, vegetables, and sugar were the items that went up in price. Despite the increases, the CBF is more stable this year, says the government.