Peru suspends some fuel taxes to combat price hikes According to Reuters

SANTIAGO (Reuters) – Peru’s Ministry of Economy and Finance announced on Sunday that it will suspend taxes on the country’s most consumed fuels to combat soaring prices caused by the conflict. Russia-Ukraine.

The government said in a statement the measure would suspend the imposition of duties on 84- and 90-octane gasoline, gasohol and certain diesels until June 30, with the possibility of an extension until May. twelfth.

Soaring fuel prices have sparked widespread protests by truck owners and Peruvian farmers. The government has been taking measures to mitigate rising fuel prices, including subsidies that it says have prevented a 3-foot (81 cents)/gallon increase in diesel prices and diesel prices. increase 5 soles ($1.36). 10 kg gas tank.

Oscar Graham (NYSE:), the country’s Economy Minister, told Reuters on Friday that the biggest threat to the Peruvian economy is the prolongation of the Russia-Ukraine conflict.

Peru’s inflation hit a 26-year high, largely due to rising fuel and food prices, according to a government report Friday.

The government also announced it will raise the minimum wage by about 10% to 1,205 soles ($278) a month starting in May. The government said the wage increase was to help improve workers’ purchasing power after analyzing inflation and local economic activity.

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