The dollar continues to rise and, today, it has already surpassed highs of $4,100. And if you think that the high dollar will only affect people who travel outside the country, you are very wrong. In fact, With the rise of the currency, the most affected are the consumers, since this indicator directly impacts a percentage of the basic basket and their ant expenses.
And, although today the currency opened lower, minutes after the data from the Producer Price Index, PPI, in the US, were released, The dollar rebounded and reached highs in the intraday price of $4,150.
This, therefore, It will directly affect the pockets of all consumers. Firstly, the family basket is made up of more than 400 products according to Dane, of these products 38% are imported and are paid for in dollars.
Basic and everyday products such as meat, fish, milk and coffee are imported and, for this reason, they may become more expensive with the rise of the dollar. So, the stronger the dollar against the Colombian peso, the more it will cost to acquire those goods.
“The exchange rate usually has a lag, it takes at least six months for the exchange rate to remain high for this to end up being transmitted,” said Camilo Pérez, Director of Economic Research and Market Analysis at Banco de Bogotá.
And I add that many of the products that are imported into Colombia do not arrive every day, but rather arrive in batches, every three months or every six months. “The prices of these products are maintained at an exchange rate of the past, the impact takes time,” he added.
Regarding ant expenses, You should know that some daily purchases that are automatically on the card, such as payments for applications or platforms, They will also become more expensive due to the rise of the dollar.
