13.4% Inflation - that is the current figure and everything is continuing to go up. Current market prices are up because of flooding in the country, mind you we are in the dry season now. Before they came to power and as part of their election promises the current government promised regulations on food items to ensure they remain at an affordable level - where are they?
Are we doomed in this country to have an ever increasing inflation rate where basic things are ridiculously expensive and it is not possible to buy a home unless you are lucky to get one through government housing terms? I am also concerned with our reliance on the US dollar, and the US dollars likely future collapse. Where will that leave us? See more here: Source 6
It would seem so because this thread started with the last government and continued into this one. It dropped for a bit but now it is racing back up a again. I also always had a problem with our dollar being pegged onto the US dollar. I have nothing against the US but why should the value of our dollar be proportional to them. Anyways I am not an economist so I guess I will not understand or be able to comprehend why when the price of 'raw' materials go up, our business men yell to the high heavens and say that they have no choice but to raise the price of the 'final' product. Somehow though when the prices of these same 'raw' materials go back down, we don't see a reflection in the price of the 'final' product.
We wonder why our inflation rate continues to rise? Good [..] when the present government sang we will rise, I didn't know they were talking about the prices of our food products as well as of course the inflation rate :/
Exactly... There have been supposed 'experts' who came on here in the past trying to tell us that the global economy is what dictates the cost of items here. Although, I agree it has an influence the influence is only based on increasing prices and not bringing it down because they know that Trinis are stupid enough to keep buying an item no matter how expensive it gets. I refuse to be part of that system and do not buy anything not really worth its value. There needs to be regulations on these things, a consumer law that says basic survival items: flour, milk, rice and so forth should not have a profit margin to exceed a standard price on things. If you want to buy imported chocolate then pay the high prices that the seller wants to impose but the seller should not be able to do the same on basic foods where it is not warranted. A lot of these companies who sell these necessary products also report substantial end of the year profits, doesn't that say anything to anybody?
This is the law of supply and demand. Once supermarkets notice how popular an item is, they take full advantage of it by deliberately supplying less and secretly increasing the price of the item. If they notice that consumers are still buying despite of the increase, they will continue this trend with all items.
Trinidadians are the biggest complainers but they never take any serious action. They grumble about how small the chicken is at kfc but they refuse to take a stand and say, I will not buy from this fast food outlet, until they decrease their prices since I am not receiving large pieces of chicken! I think Trinis need to stop criticizing and do something about this situation. Signing a petition is not enough. Taking a united stand, will affect everyone. Look at when people were sceptical to buy chicken, after the news report about chickens dying at a certain location. Market vendors complained bitterly about how their sales were affected. Now why can't we take action like that all the time? Do we have to stop buying an item because we read or heard on the news that it is not safe? What about paying too much money for food? Are we not concerned about the pennies in our pockets?
The prices of eggs will increase again. This is the second time in four months! 13.63 for small eggs, $14.18 for medium, $14.78 for large, $15.23 for extra large and $15.68 for jumbo.
Why has the topic of HIGH food prices seem to have died from the public's voice? Today in the grocery I was looking at items in my cart and each one cost over 20 something dollars each. This means that a one hundred dollar bill can get you at the most - 4 items! I am not talking about any luxury items either - basic things like cereal, milk, cheese, rice, etc. Lasco, which is a milk substitute went from $28 a month ago to now what I saw $34 in one supermarket. Why is there so much focus on so many other things and not for the cost of living? I can't believe we are STILL paying 15% on most of the things we buy and everyone seems just fine with it!
There needs to be price controls for runaway food prices. The cost of food never comes down it only goes up even when oil prices go down or there are no major natural disasters.
Business men in general always find a reason to push prices up but never can or will bring them down even if they can still make a substantial profit. The government can help bring down crime by making the cost of living within the range of common salaries otherwise we will just continue to separate the poor from the rich with no middle class.