DOUBLES PRICES GETTING HOT

DOUBLES, the poor man’s meal, is now selling at $7 each by some vendors, who are blaming increased prices of cooking oil. 

This is one of the most noticeable price hikes, along with that of Kiss bread. 

The Central Bank has confirmed increases in the prices of various foodstuff over the past few months, and there is the anticipation of further hikes as a result of international supply chain issues. 

Shipping and international labour issues related to the Covid-19 pandemic have sent up prices around the world, especially in far-off delivery destinations, such as Trinidad and Tobago. 

International economists and planners say the current inflation surge would last for several more months until the supply chain issues and shortages slowly begin to ease. 

In Trinidad and Tobago, there is a perfect storm, because thousands of workers have lost their jobs as a result of the pandemic and the dramatic slump in the energy sector is continuing. 

There have been calls from Opposition spokesman on Trade and Industry Rushton Paray for the Government to reduce cost, insurance and freight (CIF) charges on shipped goods in order to ease financial burdens on consumers. 

Paray noted that there have been “astronomical increases” in the costs of containerised cargo. 

He urged the Government to follow Guyana’s lead in reducing shipping charges to pre-pandemic figures. 

Tax increases in the forthcoming Budget could send up the cost of living, and especially that of putting food on the table, in a country with growing unemployment. 

The Central Bank has stated that the economy has not stabilised after the Covid-19 shock. 

Consumers have been complaining that their food bills have been going up over the past few months. 

The cost of vegetables has been affected by the weather. 

It is unlikely that the Budget would bring good news.