With the drop in fuel prices recorded in recent days, food prices have also shown signs of beginning to decline, according to the president of the Chamber of Marketing, Industry and Food Distribution of Puerto Rico. Rico (MIDA), Verdisac Marques.
He stressed that “prices are already going down.” “We are already receiving price changes at a lower cost. In some lines, not all.”
The first line where the decrease will be noticed will be in meat (Proteins), which are – in fact – the staple food that consumers have stopped buying due to the inflationary effects to which they are exposed.
During a consumer radiography preview conducted by the Malaysian Industry Development Authority at a press conference, this was detailed 51% of consumers stopped buying red meat, 15% white meat, plus 14% fish and shellfish in light of the fact that going to the supermarket now involves more spending. In general, this group of proteins was the most affected.
Followed by oil at 8%.
Marquez, president of Plaza Luisa supermarkets, predicted that other products could also reverse their lower prices.
“In the next two months there will be an impact on the gondolas.”progress.
However, those manufactured products, which means they have to go through a process of preparation and packaging, do not face the same fate.
“In packaged products it is the opposite. For her part, Sarah Ramirez, representative of the distributor Plaza Provision, pointed out the continuation of prices.”
In some cases, he commented, manufacturers have kept the price. However, they offer less quantity of products so that the consumer can buy them.
The head of the Malaysian Industry Development Authority explained that the problems faced by manufacturers, mainly due to a lack of raw materials, such as transportation and high energy costs, mean that these prices are not giving up.
However, there are other factors that can make manufactured products reach supermarket shelves at a cheaper rate.
Marquez commented that the situation in the European currency, known as the euro, which is equal to the dollar, could cause products purchased from Spain to become “cheaper than before. That advantage or price is passed on to the consumer.”
But, besides continuing to think about products that could be brought in from other countries, the Malaysian Industry Development Authority leader urged the government to develop a plan to manufacture products on the island.
He emphasized that the consumer is increasingly choosing to prefer local products, in addition to reducing costs to citizens.
“Puerto Rico does not produce. As a government and as a government-related entity we have to say: What are the plans for industrialization? What do we think as a country? We see that people are looking for products from Puerto Rico that they want to consume. But are we promoting that as a country? These questions, not as an industry, but as a country or As Puerto Ricans living on this island, we must demand our rulers. What is the plan? “This will translate into better prices, a better economic life and a better lifestyle,” the leader of the Malaysian Industry Development Authority said.
On the other hand, Marquez and the agency’s vice president, Manuel Reyes, were unable to say when food prices would return to normal or return to the cost that existed before the COVID-19 pandemic.
“It’s hard to guess,” Reyes said, noting that it mainly depends on the price of fuel and other global events, such as the war between Ukraine and Russia.
The US shuts down the economy by raising interest rates. How does this factor into all of this? “It is not clear yet,” he said.