ANF reports in El Deber:
According to Jubileo, inflation for the poor comes to 7.04%
Jubileo [Jubilee] Foundation points out that the greatest consequence of inflation rests on the poorest, since these families spend more than half of their income on food.
» Inflation accumulated to September stood at 5.6%
The Jubileo Foundation said on Friday that the increase in the price of food was 3.93%, considered the highest of the year, September record is the third highest recorded since the change of the consumer price index (IPC) base, and that lower-income sectors are those who bear more its adverse effects.
“Inflation for the poor – according to us -, would be 7.04 percent, obviously very high than the overall average inflation”, said Jaime Pérez, researcher of the Jubileo Foundation.
For Perez, in the case of low-income people or so-called poor, they experience a higher inflation rate, since that various studies in this regard reveal that this sector consumes up to 50 percent of their income on food.
“We see with concern that until September, food inflation has come to 11.11 percent, nearly doubling the average inflation of 5.65 percent,” added the researcher.
Jubileo notes that the greatest consequence of inflation rests on the poorest, since these families spend more than half of their income on food. Any rise in prices in the food also implies a decrease of their expenses on other basic needs.
According to data from the National Statistics Institute (INE), the inflation accumulated to September is of 5.65 percent, whereupon the forecast of the Ministry of economy and finance along with that of the Central Bank of Bolivia (BCB), estimated at 4.8 per cent until the end of the year was surpassed.
According to the official report by the INE, food like potatoes increased its price for August by 22.8 percent; the tomato by 27.1 percent and poultry by 6.8 percent.
While this happens, current ochlocratic government is pushing relentlessly for its illegitimate re-re-election…