La Paz, Bolivia (CNN) -- Bolivia's president could face high political costs after a policy change last month that sent gas and food prices soaring for several days in the South American country, analysts say.
"It was the worst decision that he could have taken at the worst moment," said political analyst Jorge Lazarte.
President Evo Morales issued a decree ending petroleum product subsidies in late December, then reversed the decision less than a week later -- after protests broke out in major cities across the country.
The nation's large population of poor have traditionally backed Morales' moves to protect the country's natural resources and increased social programs. But after the president ended gas subsidies, groups of young people pelted government buildings with rocks, shattered windows and set tires ablaze in the streets.
Analysts described it as the first major political defeat since the left-wing, populist president took office in 2006. CNN
