Trinidad & Tobago Inflation At 10% - Page 3 of 25

I honestly don't know where some of - Page 3 - Trinidad, Tobago / Caribbean - Posted: 28th Aug, 2007 - 1:08am

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High Inflation Economy, cost of living, high prices
Post Date: 14th Aug, 2007 - 6:03pm / Post ID: #

Tortdog
Trinidad & Tobago Inflation At 10%
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Trinidad & Tobago Inflation At 10% - Page 3

The WSJ had a report recently on why worldwide milk prices have surged.

* Shifting production of grains to ethanol (green fuel) resulting in increased prices for grains necessary to feed dairy cows

* Changes in world diets, principally China and India (with China only recently "discovering" cheese and other dairy products...and they like them)

It's not a local phenomenon. It's hitting the world markets (even large dairy producing countries like the United States).

We pay US$3.25 - US$4.25/gallon of milk here in Texas. That's about TT$20.64 to TT$27.00 per gallon. Can't convert to grams, since I don't have a price for dry milk.

QUOTE
Definitely need government controls on food prices especially for basic necessity.
Flour, Sugar, Oil, Cheese, Rice, Dairy, Meats, day to day household items and personal care items, baby supplies.


Not sure if this is "off topic," but addressing the comment:

Who pays for the price controls? If the world demand increases the price of milk in the domestic market, someone has to pay the difference. Why should it be your neighbor who subsidizes your milk?

Attached Image Message Edited...
LDS_forever: I fixed your quote tags.

Post Date: 14th Aug, 2007 - 6:17pm / Post ID: #


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Inflation Tobago and Trinidad

The increase of food prices in the island goes beyond dairy products. Even when inflation decreased, the prices still escalating, diary products and non-dairy products.

Every week you go to the grocery store and the prices are higher not by the cents but by the dollars so I won't say this is a global phenomenon (maybe the diary products could be somewhat considered, see I say COULD. I am not giving it as a fact) but not the rest.

Rather off topic, but...
Tortdog, just curious...What is your connection with Trinidad and Tobago? :)



Post Date: 14th Aug, 2007 - 6:36pm / Post ID: #

Tortdog
Trinidad & Tobago Inflation At 10%
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Trinidad & Tobago Inflation At 10% Caribbean / Tobago & Trinidad

Absolutely nothing to do with T&T. The only reason I even noticed this was the 10% inflation comment. Soon as I saw T&T prices being the concern, I was going to skip it until I noticed the comment focused on milk. And since I had just read that article on milk price increases in the United States....wa-lah.

Rather off topic, but...
Milk prices in Texas have gone up from about $2.50 to $3.00/gallon to $3.25-$4.25/gallon. That's about at 25% increase. Quite a bit. Inflation has increased in the United States as a whole, and that's being blamed mostly on far higher energy prices (oil more than doubling in recent years).


Increase the price of oil and you increase EVERYTHING.

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Persephone: Do not post a message only in Offtopic tags. See the our Constructive Posting Policy.

Post Date: 14th Aug, 2007 - 7:05pm / Post ID: #


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Page 3 Inflation Tobago and Trinidad

If you want to use your milk equivalent then we pay about TT$38-$45 a gallon. Things go up here by leaps every other week and DO NOT REFLECT global prices per se, but are instead the EXCUSE for it. At the end of the day I wish Trinis could be a little more frugal with how they spend money - it would certainly curb the frenzy.



Post Date: 14th Aug, 2007 - 7:54pm / Post ID: #

Tortdog
Trinidad & Tobago Inflation At 10%
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Inflation Tobago and Trinidad

So you guys are paying US$20-25 per gallon for milk. How on earth do you guys make do down there? What are you paying for gasoline and for a loaf of bread?

Post Date: 14th Aug, 2007 - 8:06pm / Post ID: #


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Trinidad & Tobago Inflation At 10%

No, the ratio is US$1 = TT$6.30 so it is more like US$6-$7 for milk.



Post Date: 22nd Aug, 2007 - 12:08pm / Post ID: #


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Page 3 Trinidad & Tobago Inflation 10%

It seems like the Prime Minister Patrick Manning read JB's rants over the price of milk.

QUOTE
Price cuts can be expected in imported powdered milk and cream as well as turkey parts and whole ducks, geese and guinea fowl.

Prime Minister Patrick Manning, the Finance Minister, did not announce the measures that are meant to lead to price reductions during his 2008 budget presentation on Monday but they are included in the budget statement.

The Express contacted the Prime Minister's office to find out why Manning did not read out the measures in his Budget presentation but was referred to the Finance Ministry.

Trade and Industry Minister Kenneth Valley said, "That is going to be part of the budget."

The measures, however, cannot take effect until the required legal notices that give them effect are published and this should be done shortly, Valley said.

The measures include the suspension of the Common External Tariff (CET) on powdered milk and cream from five per cent to zero per cent.

Powdered milk and cream were defined as that which was in powder, granules or other solid forms, of a fat content, by weight, not exceeding 1.5 per cent.

It also included milk and cream not containing added sugar or other sweetening matter.

During a Parliament sitting just last month, Minister in the Trade and Industry Ministry Dianne Seukeran conceded that milk prices in Trinidad and Tobago are too high but asserted that was due to international factors.

The new measures also include the removal of the surcharge on fresh, chilled or frozen parts of turkey.

The surcharge on frozen, fresh or chilled ducks, geese and guinea fowl is to be removed as well...


Post Date: 28th Aug, 2007 - 1:08am / Post ID: #


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Trinidad & Tobago Inflation 10% - Page 3

I honestly don't know where some of us would end up if prices continue rising this manner. Just last June, flour prices went up 10% and now they are going to be increased again.

QUOTE
The price of flour could reach new heights by Christmas, it was feared yesterday.

That could mean a hefty hit on consumers' pockets: they could be called on to pay more for bread and cakes, doubles and roti and a range of other products made from flour.

Officials of National Flour Mills and Nutrimix Flour Mills both pointed to steep increases this year and said they expected the price rise to continue because a sharp drop in the production of wheat in the US and Canada. Blaming torrential rains and intense summer heat, wheat farmers have said that production was expected to drop by 20 per cent in Canada and up to 50 per cent in the USA, the countries from which Trinidad and Tobago imports its wheat.

So far this year, doubles have gone from $2 to $2.50 and just recently went up to $3, while a mini roti went from $8 to $10. Buss-up shot sold in large quantities rose from $12 to $17 each. The price of sliced bread rose from $4.50 at the end of last year to $7.25 with whole wheat went to $7.50 at several outlets...


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