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United Workers Federation of Colombia calls for protests against price hike


United Workers Federation of Colombia calls for protests against price hike

Bogota, Feb 17 (Prensa Latina) The Central Union of Worker (CUT) on Thursday called on the people to hold peaceful rallies on March 3 in all Colombian cities against the rising inflation.
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According to the National Administrative Department of Statistics (DANE), inflation in the country reached a new five-year high of 6.94 percent, above the annual target of 3.0 percent set by the Central Bank.

The Central Union of Worker (CUT) noted that high costs and inflation were caused by the national government when it increased the price of gasoline by more than 10 percent, and public utilities by more than 11 percent, which is very high compared to the average inflation.

It also stimulates speculation and authorizes bank interest rates close to 27 percent, in addition to failing to control the rate of devaluation of the peso against the dollar, the Central Union of Workers emphasized.


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