Cuba caps prices around country

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The Cuban government is capping prices for food and beverages throughout the country in order to control the risk of inflation due to a state wage hike and stagnant productivity.

Officials say the experiment started several weeks ago in some province and it will go into effect throughout Cuba on Aug. 1.

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The price cap is part of a batch of measures announced by the Cuban government that includes an increase in the salaries of more than 1 million government employees and retirees.

Cuba is currently going through a difficult economic situation due to its low production and large import bills, especially in food and fuel, accompanied by the economic collapse of Venezuela, Cuba’s closest ally.