Cuba faces severe inflation as essential goods prices soar

Cuba is facing severe inflationary pressures, particularly regarding essential goods like vegetable oil. In Matanzas, the price of a liter of oil has exceeded 3,500 pesos, a figure that surpasses the national minimum monthly wage of 3,210 pesos.

State-controlled media has acknowledged the government's limited capacity to intervene, noting that the room for maneuvering is “extremely limited.” The crisis is driven by a decline in national production and a heavy reliance on expensive international imports, compounded by U.S. sanctions and fluctuations in foreign trade.

In response, the Provincial Government of Matanzas has established reference prices for eight staple items, including oil, chicken, rice, and milk. To combat price gouging, authorities have released several hotlines for citizens to report vendors exceeding these caps. However, the measures have met with public skepticism. Residents report that many vendors are choosing to stop selling essential goods entirely rather than risk inspections, leading to fears of increased shortages.