HAVANA TIMES — In an effort “to gradually give more value” to Cuban salaries, the government announced Monday it would drop the price of 0.5 kg of powdered milk by 9 percent to 2.65 CUC (around 3.00 usd).
An average Cuban professional can now purchase around four kilos of milk with their entire monthly salary. The new price takes effect today.
The government, which has a monopoly on imports and retail sales at supermarkets and other stores, also lowered some other prices in April and said more price relief was on the way.
The price of children’s shoes at the State stores also dropped by around 6% as of Tuesday.
Price mark-ups at the government stores are usually up to 240%. The government traditionally justifies the high prices saying it uses the profits to help fund its educational and health care programs.
The Ministry of Finances and Prices said the lower prices, “express the political will of the Communist Party and government to benefit the population, especially children and the elderly.”
Lift the economic criminal blockade against Cuba and then we will see….
Then it would be better to describe Cuban health care and education as “free” only at the point-of-service. Agreed?
you mean how workers create the wealth for a corporation?
A Mexican refrigerator marked up nearly 500% in Cuba. I want to see how the Castro bootlickers blame this on the embargo. I could use a chuckle.
Markups range from 240 to 450%
From personal experience: a refrigerator that will cost (delivered) $265 in Mexico City (Mexican brand) will cost $1280 in Santiago de Cuba.
Source: Síndrome de Estocolmo con las rebajas de precios en Cuba –
http://www.martinoticias.com/a/cuba-sindrome-estocolmo-rebajas-precio/120535.html
More on markups:
http://www.cubaverdad.net/weblog/?s=%22gravamen%22+240
https://groups.yahoo.com/neo/groups/CubaVerdad/search/messages?query=%22gravamen%22%20240