(TICO BULL by Rico) Updating the dollar exchange rate on QCR I have seen the ‘venta’ (sell) up and down fractions of colon, the Banco Central keeping it a hair away from the 560 to one US dollar.
What does that mean,the breaking of the 560 barrier? I really don’t know. Except that I believe we will now see the exchange rate hit 570 by year’s end, maybe even higher.
What does this mean at the grocery store? Having skipped economics class (as many other classes) I don’t have the skills or knowledge to answer it properly. But what I don know and call tell you is, prices have been going steadily over the past few months.
I don’t mean big changes, small amounts 10 or 20 colones here or 50 there. I have seen items I buy regularly increase in price almost overnight.
This has led to two things happening, at least for me.
One, I am now looking at competitive brands. When I see the higher price my eyes start to wander for a same or similar product to compare. On more than one occasion I have tried, based solely on the price and have liked the new (for me) product. On other occasions I have gone back to paying the higher price.
Two, I am now shopping more for deals. I will stock up on items on sale, put off buying items I usually buy until I really have to, hoping for a sale the next time I am at the supermarket. This led me to go one day without coffee at home.
What’s all this have to do with the dollar exchange? Probably nothing. Prices at the supermarket keep rising, even on local products such as coffee.
Although I blame it on the dollar exchange, if I were paranoid I would go as far as saying the retailers use this (the dollar exchange) to keep upping the prices artificially high. And though some people complain, most nothing more than complain.
Me, I refuse to buy it. Like the Angus certified rib-eye at Automercado the other that went for ¢30,205 colones per kilogram (¢13,700 colones or US$24.50 per pound). Even if you earn in dollars and spend in colones, something just is not right.
Am I wrong?
Use the comments section below or post the official Facebook page to tell your story, set me straight.