Cost of family food basket reaches RD$38,419

Dolores

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The Central Bank of the Dominican Republic says the 10.3% yearly inflation seen in the first five months of the year is ceding, and in June had fallen to 9.32%. Nevertheless, the Central Bank acknowledges the rising cost of living in the country. It explains that the cost of a typical family’s food basket has risen to average around RD$38,000.

The Central Bank says the cost for a poor family is lower, at RD$22,600, while that for a middle income family is at RD$63,700 per month.

Read more in Spanish:Diario Libre

12 July 2021

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MariaRubia

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This is reasonably scary reading. The cost is not just for food, it's for "goods and services" so we can include food, electricity and so on, but I wonder if it includes rent or not? In any case, the typical family has to make at least RD$ 38,000 just to survive, and even the poorest need RD$ 22,600. A security guard in the capital earns maybe RD$ 15,000 per month, tops, so they are about 33% short of the minimum needed to survive.
 
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Radical

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It doesn't matter if it reaches 40K, CAVOK wachiman makes that in a year plus bonus, plus what he makes on the side. Its all good!
 

bob saunders

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This is reasonably scary reading. The cost is not just for food, it's for "goods and services" so we can include food, electricity and so on, but I wonder if it includes rent or not? In any case, the typical family has to make at least RD$ 38,000 just to survive, and even the poorest need RD$ 22,600. A security guard in the capital earns maybe RD$ 15,000 per month, tops, so they are about 33% short of the minimum needed to survive.
Our administrative person and her husband ( works at Banco Reservas) make 54,000 pesos combined and she tells me that they save between 10-15,000 each month. Non drinkers but she likes her shoes and clothing. Both are qualified accountants so probably a little better at managing their money than most.
 

NanSanPedro

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Our administrative person and her husband ( works at Banco Reservas) make 54,000 pesos combined and she tells me that they save between 10-15,000 each month. Non drinkers but she likes her shoes and clothing. Both are qualified accountants so probably a little better at managing their money than most.

I'm really glad to hear they're saving. I don't get the impression that's done a lot here.
 

MariaRubia

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Well 54 minus 15 is 39 so those figures fit with the numbers they are quoting. I think costs are lower in Jarabacoa anyway.
 

bob saunders

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Well 54 minus 15 is 39 so those figures fit with the numbers they are quoting. I think costs are lower in Jarabacoa anyway.
Fruit and veggies are cheaper but other goods are more expensive than La Vega or Santiago. There is decent local cheese and great yogurt.
 

josh2203

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It's hard to save when you haven't got enough money to feed your family though. That's the whole point this argument is making.

Another point is that people with not so much resources not only do not know how to administer what they have, but they also don't necessarily know to to buy things in a smart way. For example, I have yet to find a colmado here where the prices would be lower than in supermarkets... This is not the best example, but does give an idea, so we knew someone who started selling small food items (sandwiches etc.)... Instead of doing their bulk shopping in at least an almacen, they went to source all their ingredients to the closest colmado... When they told how much they pay for this and that we could not believe it... They were spending almost all of their profits just sourcing the ingredients as they did not know any better...

My wife had a "talk" with them and they started to realize what they were doing...

So it's not just that many people earn close to nothing, it's that they just waste it all by not knowing any better or not having access to good pricing... By not knowing better, I'm not badmouthing people in any way... So the few resources they have, get "eaten" from both directions... Meanwhile, the ones that perhaps earn more, also know how to administer the resources better (mostly at least)... So those resources are "eaten" from neither end... And there the circle is closed...
 

Sailor51

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I get the 10+% inflation, but could anyone give a percentage on specific goods and/or services.
Like meat, poultry, gas etc.?
For comparative reasons.
 

USA DOC

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It's hard to save when you haven't got enough money to feed your family though. That's the whole point this argument is making.
I have people ringing the bell at the gate of my house every day....they used to be asking for money...now its always for food.......
 

Liberator

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This is reasonably scary reading. The cost is not just for food, it's for "goods and services" so we can include food, electricity and so on, but I wonder if it includes rent or not? In any case, the typical family has to make at least RD$ 38,000 just to survive, and even the poorest need RD$ 22,600. A security guard in the capital earns maybe RD$ 15,000 per month, tops, so they are about 33% short of the minimum needed to survive.
Then I wonder:
If I see the jeepetas driving in Santo Domingo then the average salary must be a lot higher, wouldn't you think?
 

MariaRubia

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Then I wonder:
If I see the jeepetas driving in Santo Domingo then the average salary must be a lot higher, wouldn't you think?

And if you take a second look you will also see thousands of people who don't have a jeepeta huddled into publicas and rutas or riding on motos which they maybe scraped together the deposit to buy. It's true there is an ever-increasing middle-class in the capital, but there is also a huge amount of poverty, just look at Guandules or Guachupita or Cristo Rey or La Cienega or Capotilla (do a virtual walk around any of these on Google Maps as these are very much "no go" areas.
 

JD Jones

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And getting back to the family food basket: Watch for it tomorrow in the news- The govt has raised the minimum wages for the private sector.

19% for large companies, which from now on will be the salary of 21 thousand pesos. A 59% increase to medium-sized companies so that it remains at 19,250 pesos. A 20.2% increase for small companies, 12,900 pesos and 11% for the new classified micro company with a salary up to 11,900 pesos.

[URL unfurl = "true"] https://listindiario.com/economia/2...inimo-un-24-en-promedio-estos-son-los-nuevos- salaries [/ URL]
 

DR Solar

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Wife just told me that she gave our domestic help a raise. They have been with us for years and are paid well plus we help out in other ways.
We haven't traveled for a year and a half (8 trips a year?) so guessing that we are way ahead so... pay it forward.