Unwarranted price hikes

Published: Monday | December 22, 2008


THE EDITOR, Sir:

My investigations have shown me that since the beginning of the year, food prices have gone up some 40 per cent. The oil price on the international market has come down from a high of US$140 per barrel, to a low of US$75 and also, grain, wheat and soy bean products have all been reduced by some 25 per cent since the beginning of this year.

However, owners of supermarkets and other businesses across the island have done completely the opposite with regard to the reduction of commodity prices on the international scene and have significantly increased their prices on the local market .

Consumers have been seeing supermarket and construction price increases since September of some 18 per cent, which is strange and really unwarranted in my view.

Why are the supermarkets and other retail food outlets still increasing their prices on a monthly basis, when the oil price has been significantly reduced over the last three months?

Another concern relates to gas station operators who refuse to post their prices on their public pricing billboards and have barely reduced their prices. Will the Government please inform those supermarket owners and gas station owners that they have a public duty and responsibility to reduce the prices of goods and services based on the reduction in food prices that has taken place on the international scene. Where are the consumer advocates who live in this country, whose duty it is to speak up for the consumers of this country? Why are you silent?

I am, etc.,

RICHARD L. TOMLINSON

Montego Bay