These days, the debate on induced inflation has dominated public spaces and the media. The plot exposed by Cuban Television, which revealed the involvement of external factors associated with the State Department and U.S. intelligence services, mobilized Cuban society, which has been severely affected by these actions.
There is nothing innocent about the actions of media outlets like El Toque. The manipulation of exchange rates is intentional and part of the economic war scheme against Cuba.
Induced inflation is a generalized and sustained increase in prices, deliberately provoked. Unlike inflation, which arises "organically" from an imbalance between supply and demand in the market, induced inflation is the result of a conscious decision.
When a country or bloc—for example, the United States and the European Union—imposes coercive economic measures on another, limiting its access to markets, foreign currency, and technology, these actions cause shortages of imported products and capital goods, leading to soaring prices.
On the other hand, the role played by the media and social networks is often underestimated. They act as powerful amplifiers and accelerators through a key mechanism: the formation of inflationary expectations.
According to experts on the subject, this is not only an economic phenomenon but also a psychological one. If consumers, micro, small, and medium-sized enterprises (MSMEs), and other actors expect inflation to rise, they act accordingly.
When someone in Cuba complains to a merchant, whether formal or informal, about the exorbitant price increase of a product or other everyday good or service, it is common to hear, "The problem is that the dollar has gone up."
When the media constantly highlights news about price increases with alarmist headlines ("Inflation Runs Out of Control," "Prices Skyrocket"), they create a perception of crisis in the public mind. By giving the topic priority and repeated coverage, they instill the idea that it is the main problem.
Predictions made by economic analysts influence people's moods and generate high levels of anxiety. If most specialists predict price increases in the near future, companies will begin planning based on those projections, fueling the inflationary spiral.
Furthermore, if the media conveys a message of "out of control" or "lack of credibility" in the authorities, expectations become a tidal wave, and the phenomenon becomes more difficult to manage.
In this context, social media spreads fear and misinformation. A short video, reel, or post claiming that "the dollar is going to skyrocket" can go viral in hours, triggering panic buying of that currency.
It's important to keep in mind that algorithms show users content similar to what they've already consumed. Thus, someone worried about inflation will see increasingly negative news and commentary, reinforcing their perception that the situation is catastrophic and amplifying their anxiety.
If an influencer with a large following recommends "buy dollars now," it can trigger a currency run that weakens the local currency. Experiences like these are not uncommon.
With this amplification, the risk of a price increase turning into an uncontrolled inflationary spiral is much greater.
This is nothing new. This strategy is part of the multifaceted war being waged against Cuba, aimed at promoting internal sedition, generating chaos, and creating conditions of ungovernability that allow for the violent end of the Revolution.
Sources: BBC, NYT, Academic Journals.
