La Paz, Oct 2 : The Bolivian government announced a new plan to ensure that necessities reach consumers at fair prices. The plan aims to fight speculation in the markets and curb smuggling to neighbouring countries.

Deputy Minister of Defence of User and Consumer Rights Jorge Silva on Tuesday said that the plan includes strict controls from production to the final points of sale to ensure the orderly progress of the entire distribution process of essential products.

This measure aims to curb the illegal exportation of necessities, such as rice and sugar, to markets in Brazil, Chile, and Argentina, where the prices of these products could double or even quintuple, Xinhua news agency reported.

Silva said that smuggling is exacerbating inflation in Bolivia. In August, the Consumer Price Index rose by 1.58 per cent, reaching 116.25 per cent, the year's highest figure.

The current state of inflation in Bolivia has exceeded official expectations for 2024, with an accumulated rate of 4.61 per cent through August. It has already surpassed the projected 3.6 per cent for the entire year, according to the National Institute of Statistics.

/IANS