New measures to gradually increase Cubans’ purchasing power

Source:  Granma
May 17 2016

by: Ministerio de Finanzas y Precios |

New measures to gradually increase Cubans’ purchasing power will be implemented from May 17, 2016

cubans buying.jpg

The population’s fear of product shortages and stockpiling has seen purchases in Cuban Convertible Peso (CUC) stores increase. Photo: Alberto Borrego

Price reductions implemented as of  May 17, 2016

In line with information published on April 22 and May 3 and continuation of measures to gradually increase Cubans’ purchasing powerthe following measures will be implemented beginning today, May 17, 2016:

Price reductions on the following products sold in Cuban Convertible Pesos (CUC):

1- Powdered milk; up to 9% and liquid milk, 20%.

For example: A 0.5 kg tri-laminate bag of powdered milk is reduced from 2.90 CUC to 2.65 CUC; and a 0.5 kg plastic bag of the same product to 2.55 CUC.

2- 25kg sacks of powdered milk are reduced to 119.85 CUC in TRD-Caribe and CIMEX stores that sell boxes of chicken.

3- Custards, jellies, rice, dry grains and canned foods (meat, sea food, fruits and vegetables) are reduced by 25 to 30%.

4- Children’s footwear by up to 6%.

Prices for products listed in points three and four are not published given the large range of offers.

These measures reflect the political will of the Party and government to support the population, in particular children and the elderly, specifically focused on implementing strategies to combat the effects of current demographic trends in Cuban society.

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