A report today from the IMF states that inflation was at "4.9 percent in 2021 and is projected at 5.2 percent for 2022 as the war in Ukraine and related economic sanctions keep global energy and food prices elevated," end quote.
One of the commodities most affected by the war is wheat, and, quietly yesterday, the local wholesale price of flour increased by 10% on Bebe Agua and La Gitana flours.
Bakers have already told the government that their cost of production for a 16 ounce loaf of bread exceeds the controlled price of one dollars and 75 cents. Those cries are now expected to become even more acute, and government is expected to eventually approve an increase in the controlled price for that 16 ounce loaf.
Tags
IMF
Bebe Agua
La Gitana
