Cuban Ministry of Finance and Prices decentralizes range of retail prices in Cuban pesos

The new provision decentralizes to the heads of chain stores and other related commercializing entities the power to approve retail prices in CUP, except for those of a selection of economic line products.

The latter include edible oils, chicken ( thigh and drumstick), poultry and beef mince; Havana Club rums; and a selection of nationally produced hygiene and cleaning products of economic line (toilet and bath soaps, detergents, toothpaste and tooth gel, deodorants and floor blankets).

It also establishes that in the determination of decentralized retail prices of chain stores and other related commercializing entities, the general principles in force must be taken into account, with a comprehensive evaluation of costs and expenses with criteria of rationality and efficiency, as well as the correlation with market references.