The Portuguese Communist Party (PCP) considers Madeira “as the champion of high prices.”
This was their analysis after speaking to members of the public in Ribeira Brava which, according to the party, shared their concerns over increases in the cost of living.”
Party leader, Ricardo Lume said that “throughout the day many of the people we spoke to are are concerned about the galloping increases in the cost of living, with each passing day it is more difficult eek out their salaries/pensions to the end of the month, especially with rises in housing expenses and utility bills. Every day grocery shopping is costing more and more with less and less being taken home. This is the harsh reality of most Madeirans and Porto Santons.”
He further pointed out that “the most recent statistical data, an expression of the increase in prices that so conditions the quality of life of those who live in the Region, transforming Madeira into the champion of high prices at a national level; the Consumer Price Index (CPI) in August in Madeira was 3.3%, while at a national level the same index was 2.3%, i.e. in the Region prices increased by more than 43% than the national average; ‘Restaurants and Hotels’ (8.1%), ‘Communications’ (6.0%) and ‘Food and non-alcoholic beverages’ (4.8%) recorded the highest increases; In August 2024, the average value of housing rents per square meter of floor area increased by 7.7%.”
The PCP leader concluded by stating that “this punishing reality of the Madeiran people hangs in the goverenence of the ruling party, which does not use autonomic means to control prices, thus guaranteeing a land of ‘milk and honey’ for those who profit from speculation.”
“We are not condemned to the policy of speculation, exploitation, and impoverishment, not only is it possible, fair, and necessary to set maximum prices on essential goods and services, but also to increase wages and pensions for a better life,” concluded Ricardo Lume.
Samantha Gannon
info at madeira-weekly.com
