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Graham on inflation: “Hardest hit are low-income people”

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The head of the Ministry of Economy and Finance (FEM), Oscar Grahamhighlighted that those most affected by the increase in inflation They are the people with the lowest income.

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The official’s words come after the controversy unleashed by the autograph of the Law that exempts food that is not part of the basic family basket from VAT, the same that was approved last Thursday, April 7.

“We focus on food inflation, that inflation is above 10% and the most affected are people with lower incomes,” he commented. Graham in dialogue with TV Peru.

It should be noted that the MEF presented an initiative that sought to exempt from VAT for six months for those foods with an impact on the basic basket such as: chicken, eggs, flour and sugar.

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“The autograph has several generalities, these measures have to be discussed. We made the proposal so that these measures have the specificity of being linked to the products with the greatest demand and the greatest need. We as MEF are always willing to coordinate technically, but the proposal that was made and the proposal that was approved through the autograph was not finally discussed, “he said.

At another time, the holder of the FEM praised the monetary policy adopted by the Central Reserve Bank of Peru (BCRP) as well as the gradual increase in the reference rate, which rose to 4.50% on April 7.

However, Graham He clarified that although this measure mitigates the impact of inflation, what should be done to solve the needs of the poorest is to focus measures.

“What has to be done in these circumstances is to focus the Government’s measures using resources with exceptional measures. That is why gradualness is so important, the timing of precisely how to use these measures to reach those who need it most, and the Government has already been taking some additional measures such as the ISC on fuel, and others are being prepared, such as the increase in bonds social programs,” he said.

Source: Larepublica

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