SANTIAGO, CHILE. - While Latin America’s inflation climbed to 8.9 percent in June, Dominican Republic’s figure soared to 12 percent compared with the same month last year, according to the Economic Commission for Latin America and the Caribbean (Cepal).
Food prices in the region rose 15.7 percent in the same period, Cepal said in its “Economic Study for Latin America and the Caribbean 2007-2008," which found that the region’s inflation was 6.5 percent in 2007, as food prices rose 10.7 percent that year.
The report reveals that after the continuous slide since 2002, consumer price increases to June affected almost every country, with variations ranging from a low inter-annual increase of 5 percent in Mexico to a high of 32 percent in Venezuela.
Among the countries with the highest inflation figure Nicaragua (23%), Bolivia (17%), Guatemala (14%), Paraguay (13%), Costa Rica (13%), Dominican Republic (12%), Honduras (12%), Ecuador (10%) and Panama (10%), whereas Chile (9%), Argentina (9%), El Salvador (9%), Uruguay (8%), Colombia (7%), Brazil (6%), Peru (6%) and Mexico (5%), posted the lowest figures.
Written by: juanb, 29 Aug 2008 9:11 AM
From: Dominican Republic
Tough to manage the economy when your most reliable advisor is the Magic 8 Ball.
From: United States Virgin Islands, St Thomas Mahogany Run
ouch !
From: United States, Houston
Well has presidente had a price increase? Be glad you dont live here-"32 percent in Venezuela."
A prime example of socialism at work.
From: United States Virgin Islands, St Thomas Mahogany Run
ask the 8 ball what the peso will be next month ?
From: United States, New York City
Inflation is a society killer ....
From: United States Virgin Islands, St Thomas Mahogany Run
you mean you dont remember Jimmy Carter 19% Manhattanite.?....that is why he did not speak
From: United States, Houston
Jimmy Carter, I remember him well he is famous for the infamous "windfall profits tax".
From: United States Virgin Islands, St Thomas Mahogany Run
and scheduling the White House tennis courts
From: United States
ouch is right, GC. especially when you consider it against the backdrop of realities here. i spoke to a lady some time back, who has worked for an American for 7 years. she has never received a wage increase, ever! she works for this guy 6 days a week, and still makes the same 5000 pesos per month that she received in 2001. her annual wage could not pay for his laptop.what's a body to do?
From: United States Virgin Islands, St Thomas Mahogany Run
wow thats a one in a million story ....are you sure it was not a Canadian
From: United States
sadly, GC, it is not a one in a million story. it happens every day. this guy makes more money trading stocks in one day than this lady makes in years. and no, the guy is not canadian, but i can give you some horror stories from that sector, too. but people will say i am "negative and angry".
From: United States Virgin Islands, St Thomas Mahogany Run
My experience in all the third world countries are the opposite ....the guilt of wealth usually makes them react in the opposite direction ......thus pissing off the locals for overpaying and causing inflation
Written by: BASTA, 29 Aug 2008 10:24 AM
From: Dominican Republic, SPM
And of course she got room and board - please figure that in.
From: United States
that is only when it comes to paying the chicas! overpaying is a short term phenomenon. guys who hunker down for the long run suddenly want to get everything for nothing. they offer the rationale that the folks had nothing before, and anything is better than nothing!
Written by: skysail, 29 Aug 2008 10:28 AM
From: Dominican Republic
55 RD = 1$
Well done!!!
From: United States
yes, Basta, she roomed and boarded in her little shack in the barrio, and took a motoconcho to and from work, 35 pesos each way.
From: Malta, Malta Goya, La marca del momento esta pa ti
wow! and I just got a parking ticket thats money I could be sending to my aunt
From: United States
actually , texasshoe, excess profits taxes have been around since the days of the confederacy. they had them in ww1, ww2, korean war. Jimmy Carter did not devise the idea. i understand your pro capitalist agenda, but at least a man of your knowledge and exposure should be intellectually honest, if only moderately objective!
From: Malta, Malta Goya, La marca del momento esta pa ti
Written by: texasshoe, 29 Aug 2008 9:19 AM
From: United States, Houston
Well has presidente had a price increase? Be glad you dont live here-"32 percent in Venezuela."
A prime example of socialism at work.
Written by: dreadlocks, 29 Aug 2008 9:50 AM
From: United States
ouch is right, GC. especially when you consider it against the backdrop of realities here. i spoke to a lady some time back, who has worked for an American for 7 years. she has never received a wage increase, ever! she works for this guy 6 days a week, and still makes the same 5000 pesos per month that she received in 2001. her annual wage could not pay for his laptop.what's a body to do?
capitalism socialism both are bad, what is good ... nothing
From: United States Virgin Islands, St Thomas Mahogany Run
Carter the economic wizard was the last idiot to do it....no he did not invent it
From: United States Virgin Islands, St Thomas Mahogany Run
Just like crabs ...you were not the first person to catch them ....you were just the Dominican distributor
From: Malta, Malta Goya, La marca del momento esta pa ti
.................
From: United States Virgin Islands, St Thomas Mahogany Run
land crabs that is
From: United States
what do you propose, chillaxin? economic and governmental philosophies do not determine the outcome of anything: mankind does. the failure of capitalism to achieve anything more than making a few rich people at the expense of billions of poor people, is a reflection of mankind's propensity to be loathsome. socialism failed in russia , not because of socialism, but because of russians. that is why i resent it when people call me a socialist, because i believe in fairness of opportunity. it is like news reports claiming a stretch of road to be " DANGEROUS HIGHWAY". it is not dangerous to the guys who drive on it without wrecking. it is dangerous to the cretins who refuse to adjust their driving styles to conform to the peculiarities of that section! everything is determined by the behavior of mankind.
From: United States Virgin Islands, St Thomas Mahogany Run
Sarah Palin
Written by: anthonyC, 29 Aug 2008 11:12 AM
From: United States
Venezuela's Inflation rate is at 32% and people still look to Chavez as an economic beacon of hope?
From: United States Virgin Islands, St Thomas Mahogany Run
Chill rob a liquor store ....go ahead you are a victim ...you are entitled
From: United States
well, it depends on how much income has risen. if you are earning 50% more than you did at the start of the accounting period, and inflation has risen by 32%, you are still ahead of the curve. but if you are earning the same, and inflation is 2%, you are 2% behind!
Written by: Escott, 29 Aug 2008 11:32 AM
From: Dominican Republic, Sosua/Cabrera
It's always tough working for a living... Wait till the Haitians chime in on little money, hard work and MONSTER profits:)
From: United States
Escott, the Haitians are the experts to chime in, because they have seen it both here and in haiti! just go to the auto races at the autodrome in santo domingo and watch the race teams from haiti bringing in their stuff!
From: United States
Can anyone help me with this math?
RD GNP Growth 5.5%
Less: RD Annual Inflation (12.0)%
Equals Real Growth -6.5%
What does all this mean is exordinary inflation as merchants reap benefits from DR-CAFTA but price gouge and refuse to pass on savings to the Dominican society. The average Dominican family gets screwed and is worse off this year than before!
While politicans, military, police & DNCD practice back-scratching, move drugs and profit at the rest of societies expense.
From: United States, Houston
Dread,
" that is why i resent it when people call me a socialist, because i believe in fairness of opportunity."
If that is the case I am (gulp) a Socialist as well. I was brought up in a manner that taught me that in order for you to achieve anything you needed to apply yourself to your studies, work ethic, and do thing right the first time. I was also told nothing is for free. If an opportunity is presented to ten folks wanting to better themselves and only 6 take advantage of it and the other 4 start to complain about the rules, hours, etc.. Then those 4 are idiots in my book, the opportunity was there and THEY let it pass them by. That is why in the DR and other LA countries after the employees reach the time limit on 100% participation in the mandated benefits, great employees overnight turn to mediocre ones.
From: United States
texasshoe, there is nobody that i can think of who resents indolence more than i do. i believe that if you elected to do a job for ten cents an hour, you should do it as well as you can, if only to show others your potential. what if you are a college graduate who has to work as a waiter until better comes along? maybe better will come along in the guise of a customer who can help you along, but, who can not detect that you are a diamond in the rough, because you have a lackadaisical attitude to service. the only people i despise more than lazy bums are people who were born with silver spoons in their mouths, and believe that nobody else should be allowed to join their exclusive club. the world was put here to serve them and wipe their butts, because they are so special that they need a house with 14 bathrooms, even though they live alone. they give nothing to charity, but claim $10,000 in "charitable contributions" on their tax returns. i abhor them!!!
From: United States, Houston
Dread,
Well put, well said, I agree!
Written by: Jander, 29 Aug 2008 5:52 PM
From: Dominican Republic
FYI the American is paying more then he needs to , but he should pay transportation.
sad but thats the way it is.. Beats Cuba I suppose
Wages in the DR.
Domestic Workers
Domestics do not benefit from many of the provisions of the Labor Code (Art. 4). Domestics are defined as workers dedicated to household chores, such as cooking and cleaning, when carried out outside of a business (Art. 258). Condominium employees are not considered domestics.
Domestics are not subject to any regular work hours although every domestic must have a minimum of nine hours per day of uninterrupted rest and a weekly rest of 36 hours without interruption (Arts. 261 and 262). Domestics do not have the right to receive severance pay when dismissed. However, domestics do have the right to two weeks of paid vacation a year after their first year at work and to receive a Christmas salary as regular workers do
Written by: Jander, 29 Aug 2008 5:54 PM
From: Dominican Republic
Minimum Wage by Sector
Businesses in General (by Capital/Holdings in Pesos)
4,000,001.00 and above 6,400.00 DOP
2,000,001.00 to 4,000,000.00 4,400.00 DOP
Up to 2,000,000.00 3,900.00 DOP
Hotels, Casinos & Restaurants
500,001.00 DOP and above 4,970.00 DOP
200,001.00 DOP to 500,000.00 3,550.00 DOP
Up to 200,000.00 3,200.00 DOP
Other Sectors
Duty Free Zones 4,450.00 DOP
Private Security Firms 5,400.00 DOP
Non-Profit Organizations 2,587.00 DOP
source :
http://www.drlawyer.com/publications/dominican-labor-law.htmlFrom: United States
Jander, " needs to" and " ought to" are two different things. if you are comfortable with the idea of paying someone $ 5.00 per day to wash, cook , clean for a millionaire, then we need not converse any further, because we operate from antipodal standards of humanity and morality. and to quote me some antiquated statutes from the labor code is just beyond the pale. i bet you would object to working 7 years without a raise, but, i guess you are one of those who believe that such considerations should only be reserved for better people such as yourself, not for housekeepers. i hope i misjudge the intent of your post, because i cannot believe you find this acceptable.
Written by: Jander, 29 Aug 2008 6:31 PM
From: Dominican Republic
Just the facts man... don’t take it personal, and not all Americans are the same.
So in this case it would have been better to say this particular American because we are by nature very generous and forgiving. I paid our maids more but it was my Dominican wife who said I was paying too much. Then the Dominican neighbors were complaining that their maids wanted raises because the Gringo paid better.
I just let her deal with it and by the time all my clothes were ruined and expensive items broken the cost was more. A freind of mine said well you get what you paid for..
What do you do?
Written by: Jander, 29 Aug 2008 6:35 PM
From: Dominican Republic
By the way I am proud to say that one of my maids finished high school and is now attending university. I told her from the beginning you can do better then this if you work hard. So maybe your friend should hit this guy up for a student loan. Tell her thats what the Gringo's do here..
Written by: Jander, 30 Aug 2008 12:04 AM
From: Dominican Republic
From: Malta, Malta Goya, La marca del momento esta pa ti
Written by: gouletcolonial, 29 Aug 2008 11:16 AM
From: Canada
Chill rob a liquor store ....go ahead you are a victim ...you are entitled
is that how your Cuban Brothers feel when you guys steal from the U.S.
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A prime example of socialism at work.
Well done!!!
From: United States, Houston
Well has presidente had a price increase? Be glad you dont live here-"32 percent in Venezuela."
A prime example of socialism at work.
Written by: dreadlocks, 29 Aug 2008 9:50 AM
From: United States
ouch is right, GC. especially when you consider it against the backdrop of realities here. i spoke to a lady some time back, who has worked for an American for 7 years. she has never received a wage increase, ever! she works for this guy 6 days a week, and still makes the same 5000 pesos per month that she received in 2001. her annual wage could not pay for his laptop.what's a body to do?
capitalism socialism both are bad, what is good ... nothing
RD GNP Growth 5.5%
Less: RD Annual Inflation (12.0)%
Equals Real Growth -6.5%
What does all this mean is exordinary inflation as merchants reap benefits from DR-CAFTA but price gouge and refuse to pass on savings to the Dominican society. The average Dominican family gets screwed and is worse off this year than before!
While politicans, military, police & DNCD practice back-scratching, move drugs and profit at the rest of societies expense.
" that is why i resent it when people call me a socialist, because i believe in fairness of opportunity."
If that is the case I am (gulp) a Socialist as well. I was brought up in a manner that taught me that in order for you to achieve anything you needed to apply yourself to your studies, work ethic, and do thing right the first time. I was also told nothing is for free. If an opportunity is presented to ten folks wanting to better themselves and only 6 take advantage of it and the other 4 start to complain about the rules, hours, etc.. Then those 4 are idiots in my book, the opportunity was there and THEY let it pass them by. That is why in the DR and other LA countries after the employees reach the time limit on 100% participation in the mandated benefits, great employees overnight turn to mediocre ones.
Well put, well said, I agree!
sad but thats the way it is.. Beats Cuba I suppose
Wages in the DR.
Domestic Workers
Domestics do not benefit from many of the provisions of the Labor Code (Art. 4). Domestics are defined as workers dedicated to household chores, such as cooking and cleaning, when carried out outside of a business (Art. 258). Condominium employees are not considered domestics.
Domestics are not subject to any regular work hours although every domestic must have a minimum of nine hours per day of uninterrupted rest and a weekly rest of 36 hours without interruption (Arts. 261 and 262). Domestics do not have the right to receive severance pay when dismissed. However, domestics do have the right to two weeks of paid vacation a year after their first year at work and to receive a Christmas salary as regular workers do
Businesses in General (by Capital/Holdings in Pesos)
4,000,001.00 and above 6,400.00 DOP
2,000,001.00 to 4,000,000.00 4,400.00 DOP
Up to 2,000,000.00 3,900.00 DOP
Hotels, Casinos & Restaurants
500,001.00 DOP and above 4,970.00 DOP
200,001.00 DOP to 500,000.00 3,550.00 DOP
Up to 200,000.00 3,200.00 DOP
Other Sectors
Duty Free Zones 4,450.00 DOP
Private Security Firms 5,400.00 DOP
Non-Profit Organizations 2,587.00 DOP
source :
http://www.drlawyer.com/publications/dominican-labor-law.html
So in this case it would have been better to say this particular American because we are by nature very generous and forgiving. I paid our maids more but it was my Dominican wife who said I was paying too much. Then the Dominican neighbors were complaining that their maids wanted raises because the Gringo paid better.
I just let her deal with it and by the time all my clothes were ruined and expensive items broken the cost was more. A freind of mine said well you get what you paid for..
What do you do?
'The fine is big money in a country where nearly everyone, Aguila included, works for the state and takes home an average of 408 pesos (US$19.50) per month"
From: Canada
Chill rob a liquor store ....go ahead you are a victim ...you are entitled
is that how your Cuban Brothers feel when you guys steal from the U.S.