Prices still being ridiculous and nobody seems to be talking about it. When I go to the supermarket, what I see is not what I expect to see. I am a hard working professional, I am not rich and yet I am catching my behind all the time. However, I see the rest of the people in the grocery with their carts full of imported meats and products and driving their latest cars. What am I doing wrong? *sigh*
Anyhow, according to the Express, the headline inflation rose to 6.8 per cent in June compared to 5.6 per cent in May and the core inflation, which excludes food prices, slowed to 2.2 per cent in June from 2.4 per cent in May. Also, food inflation regained momentum in June 2013, accelerating on a year-on-year basis to 12.6 per cent from 9.6 per cent in May and April 2013, respectively. Source 4
With war looming in the Middle East (Syria) oil prices have already begun to go up. Although food prices have leveled off for awhile they really never went down to the prices of a year or two ago. Look out, another reason for supermarkets in Trinidad & Tobago to raise prices - it is up to the consumers to wise up.
According to the Express, Kamla's "Gift" To the nation for Christmas is a 20% reduction in prices of flour, oil, and rice for next Monday 23rd and Tuesday 24th of December. The discounts are applicable only on National Flour Mills products.
Oil prices today are at US$78 a barrel - one of the lowest prices in years, yet in Trinidad & Tobago prices of food are going up! I wish the people of this country would complain rather than keep buying the food. Yes we have to eat but we do not have to eat everything especially not the foreign goods. Trinis need to understand sacrifice for the greater good but they know nothing of that preferring to stuff their faces instead. The obesity epidemic in this country did not come from hard work and exercise.
If anyone in Trinidad who does not have blinders on is following Oil Prices they will note that it is hitting the US$70 a barrel and may likely go lower and yet a visit to any supermarket and you will see food prices steadily increasing! Where are the protests over this?
Things are still expensive and going up even though oil prices drop and we might be heading for a depression.
The Central Bank Governor in a recent interview said that 75% of Trinidad & Tobago's oil related revenue does not come from crude oil but natural gas and natural gas prices have not changed much. According to him this means the country should not be overly anxious about the economy BUT it does beg the question of why food prices are still on the increase despite no new importation fees, taxes and transportation fees should be lower.
Oil is below the US$50 mark and yet has anyone seen a significant reduction in food prices in Trinidad & Tobago? Why aren't the people crying out for this?