Perhaps as a spoof of official statistics, perhaps as a way to put the economic realities in perspective, President Luis Abinader has mentioned a new metric: the Pollo Index (Chicken Index).
The President said that with the new minimum wage a person can purchase 246.63 lbs of poultry as a demonstration of the purchasing power of the new wage levels.
According to the Ministry of Agriculture, a pound of processed chicken is worth RD$75.83/lb and workers can now obtain 100 pounds more of this protein than in 2011, the year referred to in the 27 February 2023 state of the nation speech in Congress.
The 15% wage hike that goes into effect this month will be boosted by another 4% next year.
The President’s reference is the result of an effort by some young economists who were trying to measure the buying power of the new wage package. Abinader noted that the minimum wage...
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