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The price of urban basic food basket fell by four dollars during the month of August, according to reports from the Oficina Nacional de Estadísticas y Censos (ONEC). This decrease, the first reported in the last five months, translates into an average expenditure of US$250.79 per family, representing an economic relief of 1.7% compared to the US$255.06 that families paid last july. This trend is a positive indicator for the family economy, following a period of continuous increases that had extended since the spring.
End of five months of slow increases
The august reduction marks a break in the upward trend that the urban basic food basket had sustained since march. The statistics office notes that this sector began a gradual increase between march and april, when the price rose from US$245.82 to US$247.27, and has continued to rise since then.
The recent 1.7% decline is welcome news that directly impacts the purchasing power of urban households.
Projections of stability and further declines
The statistics agency projects that the downward trend could continue in the coming months. Some specific products that contributed to the recent decline and could continue to decline include key foods such as wheat flour, corn, oils, oranges, plantains, and bananas.
If these projections are confirmed, a period of price stability would be consolidated in the food sector, a determining factor for managing family finances in urban areas.
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