Food Prices Triple in El Salvador
"Those Responsible for Food Price Gouging Will Face Consequences"
El Salvador's president, who is waging a 'war on crime,' has now declared a 'war on inflation.'
On the 7th (local time), the US AP News and others reported that President Nayib Bukele of El Salvador said at a cabinet meeting on the 5th, "Those responsible for the sharp rise in food prices will face consequences," and vowed to curb the soaring prices with the "same policy that eliminated gangs from the streets."
In a video posted on his X (formerly Twitter), he also sent a message to all importers, distributors, wholesalers, and retailers, saying, "Stop abusing the people of El Salvador, or do not complain about what happens afterward," warning, "The government is not playing around with this issue."
According to El Salvadoran authorities monitoring price fluctuations (Consumer Ombudsman Office), some food prices, especially in the capital San Salvador, have reportedly risen up to threefold in the first half of the year. This has led to increased public dissatisfaction.
President Bukele emphasized, "In a free market, prices of goods and services should be regulated by supply and demand, and competition should lead to improved quality and lower prices," adding, "Cartel formation, tax evasion, bribery, and smuggling distort market functions and must be punished as crimes." Following his speech, on the 6th, the day after, authorities observed price drops mainly in vegetables at 3,800 locations.
Photo released on the 11th of last month (local time) by the Office of the President of El Salvador. Inmates without shirts are sitting on the floor with their hands clasped on their heads. [Image source=AFP Yonhap News]
Prior to declaring the 'war on inflation,' El Salvador had implemented a strong anti-gang crackdown policy. As a result, the homicide rate in El Salvador has sharply declined in recent years.
According to local daily newspapers such as La Prensa Gr?fica, the number of homicides in El Salvador last year was 154, down about 70% from 495 cases in 2022. This corresponds to about 2.4 cases per 100,000 people. While some have criticized the crime crackdown operations as human rights violations due to their approach of arresting suspects without clear evidence, President Bukele was re-elected in February with a high approval rating of 85% in the presidential election.
Meanwhile, the El Salvador police are investigating 120 suppliers regarding unfair price increases. Additionally, the El Salvador government has established 20 weekend direct-sale markets nationwide to sell tomatoes, onions, potatoes, lettuce, and other items at prices lower than the market rate.
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