Title: Inflation Soars in Cuba as Prices for Electric Tricycles and Used Cars Become Astronomical
Subtitle: Cuban State Businesses Continue to Exacerbate the Financial Burden on Citizens
Date: [Insert Date]
Inflation in Cuba shows no signs of slowing down, with even state businesses joining the trend of exorbitant pricing. One of the latest examples is the sale promotion of electric tricycles by Tiendas Caribe in Matanzas, leaving many astonished at the skyrocketing prices.
Dubbed as the “Athens of Cuba”, Matanzas is where these vehicles are being sold at an astronomical cost of $4,800.00 MLC (Moneda Libremente Convertible). Unsurprisingly, these prices are inaccessible to the average salary earner on the island.
Tiendas Caribe recently posted about the sale of tricycles and electric bicycles at their store, appropriately named “El Veloz”. The prices quoted for the tricycles range between $4,400.00 MLC and $4,800.00 MLC, while the electric bicycles are marketed as “reduced” at $1,400.00 MLC to $1,340.00 MLC.
In a separate post from the store itself, mechanical bicycles are offered for sale in Cuban Pesos (CUP). However, the prices are still a shock to many, ranging between $24,000.00 CUP and $34,000.00 CUP. These rates have drawn criticism from Cubans who struggle to afford even basic food necessities given their meager monthly salaries.
Unfortunately, this trend extends beyond tricycles and bicycles. Owning a car is a dream for many Cubans, but the prices for used vehicles make it an unattainable reality for the majority. An example of this is the sale of tourist cars, which are no longer available for rent and are being sold primarily in Havana.
One such car, the Peugeot 301, is being sold at a staggering $47,000.00 MLC. These vehicles have already traveled thousands of kilometers across Cuba and exhibit significant wear and tear in their technical and mechanical aspects.
Adding to the woes, Finauto International, the official distributor of Kia Motors in Cuba, recently started selling Chinese-made electric cars. While these vehicles are primarily targeted towards the Cuban private sector, their prices range between €9,000.00 and €12,000.00.
Interestingly, Vehículos Eléctricos del Caribe (VEDCA), a mixed company, not only markets its products in MLC stores in Cuba but also exports a variety of vehicles.
The continuously rising costs of essential goods like electric tricycles, used cars, and even basic food items have made daily life increasingly challenging for the average Cuban. As inflation continues to surge, it remains to be seen how the Cuban government will address this mounting crisis and provide relief to its struggling citizens.
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[insert author’s name]
Note: MLC refers to Cuba’s secondary currency, which is pegged to the US dollar and primarily used for international transactions and luxury goods. CUP (Cuban Peso) is the primary currency used by locals for everyday transactions.