A high-ranking official from the Central Bank of Cuba (BCC) stated that the government has already "achieved a moderation of inflation," a claim that starkly contrasts with the daily reality faced by millions of Cubans, whose salaries are plummeting daily amidst unaffordable prices, empty markets, and a currency that continues to lose value.
The statement was made by Ian Pedro Carbonell, Director of Macroeconomic Policies at the BCC and a member of the National Assembly, in an interview published by the official newspaper Granma. The official argued that there are "more favorable conditions" for progressing in the macroeconomic stabilization process and, in particular, for promoting a future official currency exchange market.
However, the phrase that aims to showcase economic control appears just when inflation is hitting households hardest and when the informal dollar surpasses historic levels, while domestic prices soar uncontrollably.
Carbonell asserted that the fiscal measures adopted by the government would have allowed for "moderating" inflation, although he did not provide verifiable data or explain which indicators support that interpretation. He also failed to mention how this supposed progress aligns with the significant loss of purchasing power that the country has been experiencing since the failure of the Monetary Reform and the collapse of banking.
As he had done on previous occasions, the official reiterated that the official exchange market will be a "key piece" in organizing the Cuban economy and correcting distortions that have accumulated over the years. However, just like in past announcements, no dates, mechanisms, or sources of foreign currency were presented to sustain a credible exchange system.
Meanwhile, Cubans continue to face prices that change from one day to the next, shattered wages, and a widespread feeling that life has become unaffordable.
The Toque as a scapegoat
Although the interview focused on the promised, yet non-existent, foreign exchange market, Carbonell devoted a significant portion of his responses to attacking the independent medium El Toque, which he again accused of "distorting" the economy by publishing the informal rate.
According to the official, the exchange rate reference offered by the platform "lacks economic legitimacy" and responds to "speculative" dynamics, arguments that align with the official offensive of recent weeks, led by the ruler Miguel Díaz-Canel, presenter Humberto López, and the BCC itself, along with other elements of the state apparatus.
In his remarks, Carbonell reiterated the regime's narrative: that the Representative Rate of the Informal Market from El Toque induces “self-fulfilling prophecies”, fuels uncertainty, and directly impacts the population's purchasing power. However, he did not explain why millions of Cubans rely on that reference or how the State plans to regain the trust lost in its own exchange rates.
"Moderate" inflation for the speech, not for the table
The statement that the government has managed to "moderate inflation" comes at a time when the majority of Cubans are facing:
- Prices are updated weekly.
- A dominant informal market.
- Blackouts that worsen the cost of living.
- Salaries that do not cover even a quarter of the basic basket.
The population experiences a feeling that is completely opposite to what the official describes, facing a deepening crisis that has led many to emigrate, sell their belongings, or rely on remittances to survive.
The gap between the official discourse and real life is widening again, and Carbonell's statement, far from calming the situation, highlights the institutional disconnect in the face of an economy that offers no solutions or relief in sight for the public.
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