
No April Fool's joke but the price of food will increase as of today according to the Supermarkets Association. Where are the price controls on BASIC food items that the current government promised will be implemented? Milk, rice, flour, grains and sugar should at least be subsidized.
Food Prices In Trinidad
Still awaiting news about price standardization on basic food items. There will possibly be global food price increases and the very poor among us will not be able to meet the demand unless there is a LOCAL surplus of food.
Eggs will go up according to farmers because of the US drought which is making grain prices very high. They say this could have been avoided if government gave them land to grow corn as a substitute for the high US grain prices.
The government taking away VAT from basic food items. We all know what going to happen. Those items will reduce a bit and then in a couple of months they will revert back to the old price. Removing VAT isn't a solution, there has to be regulations.
I am glad TV6 did a report today about the fact that Supermarkets are raising food prices ahead of the VAT removal for the 15th November, 2012 so that when the 'discount ' is applied it returns to current prices. I thought no one had noticed, but it is good that it was brought up! There needs to be standard prices set and penalties for those who are purposely raising their prices just because they can!
That no VAT on food is a waste because a couple of days after they announced that the groceries started raising everything by 15% so when the no VAT comes into effect you get the same prices you were paying before this 'Christmas gift' from the government. This happens when you try to implement things without setting up a standard to ensure everyone complies.
Some time ago I used to go in the supermarket often, and I noticed every time I go there the prices of the food and things there raises higher and higher! I am not surprised that most Trinis don't do anything about the prices.
Edited: Felipe on 3rd Nov, 2012 - 2:18pm
Name: Akash
Title: Supermarket prices
Comments: It's remarkable that Trinis have such a poor understanding of simple economics. The government removed VAT on food. FINE! However the supermarkets paid VAT when they bought it. Who is going to compensate them for that? They are going to give you a 15% discount? Get real! When stocks are finished and new stocks are purchased then you will see a reduction.