Devaluation of the Colombian peso against the dollar in triggers inflation in Táchira

Devaluation of the Colombian peso against the dollar in triggers inflation in Táchira

Devaluation of the Colombian peso against the dollar in triggers inflation in Táchira

 

The average food basket in the Táchira State is less and less affordable for its citizens because they suffer a double devaluation and inflation as a border territory where 90% of commercial establishments use the Colombian peso as the main currency.

By Anggy Polanco / Correspondent lapatilla.com





It is important to point out that the Colombian economy has a direct impact on the border states of Venezuela. That is why the increase in the price of the dollar against the Colombian currency has generated a significant imbalance in the economy of Táchira State.

In Colombia, for the first time ever, last week the dollar hit a price of 4,500 pesos, which caused that in the Andean state, where more than 60% of the groceries are imported from the neighboring country, the prices of the main food products quoted in Colombian pesos rose significantly.

For the region’s bakery sector, which depends on raw materials brought from Colombia, the devaluation of the Colombian currency has meant losses, since inputs such as flour, sugar and butter have suddenly risen in price. This was stated by Yelitza Castañeda, owner of a bakery in the Andrés Bello Municipality.

She stated that it is for this reason that the price of bread has increased in recent days, but they cannot increase the prices of products every day to level them to the dollar.

“If the dollar goes up or down, it’s the same, the prices continue to be up, because there is no type of control,” said the trader.

Alexis Guerrero, an inhabitant of the region, narrated that food prices have received a great impact despite the fact that the price of the dollar in Colombia decreased. “The people of Táchira have to bite the bullet to bring his food home,” Guerrero said.

Some merchants have had to update prices up to twice a day, being described as a second chapter of the economic terror that was thought to have been overcome by Venezuelans.

In addition to this, Alberto Maldonado, President of the Federation of Construction Workers (Fetratáchira), referred to the increase in the prices of domestically produced food in dollars, since he indicated that a liter of oil that is supposed to be produced in Venezuela , costs in Táchira 5 dollars and a kilo of corn flour 1.5 dollars.

The union leader urged the authorities to activate the consumer protection mechanisms in this situation.