CAC: No sign of price gouging
Agency says cost of critical basic food items remains relatively constant
Published:Saturday | September 21, 2024 | 12:09 AMSashana Small/Staff Reporter
Although there were concerns raised that some proprietors may have been unjustly increasing the prices of goods and services in the aftermath of Hurricane Beryl, the Consumer Affairs Commission (CAC) said it has found no evidence to support this.
The agency that is responsible for promoting competition and fair trading said its analysis of price changes for critical basic food items between June and August remained relatively constant.
“While there were higher than normal increases in prices of agricultural items, there was not enough evidence to support a claim of price gouging,” CAC told The Gleaner.
According to the agency, during June to July, the average prices of most basic food items remained relatively constant. There was a one per cent increase observed for the average prices of bulk dried salted fish, Gold Seal counter flour, salted fish, Uncle Sam’s cooking oil, Best Dressed frozen whole chicken and CB frozen whole chicken.
On the other hand, CAC said the average prices of Anchor full cream milk powder declined by two per cent, while the average prices of Lasco readi-milk skimmed milk powder, bulk coarse cornmeal, Caribbean Choice corned beef and Miracle corned beef declined by one per cent.
Similarly for the July-August period – after Hurricane Beryl impacted the island on July 3 as a Category 4 storm – the agency said the average prices of most basic food items remained relatively constant.
The average prices of Worthy Park Estate pre-packaged dark sugar, bulk white rice and Anchor full cream milk powder increased by two per cent, consumer affairs noted.
Meanwhile, the average price of bulk cornmeal (coarse) declined by four per cent. This was followed by a one per cent decline in the average prices of Kendel mackerel, Grace mackerel, Golden Grove pre-packaged dark sugar, Gold Seal counter flour, Nupak corned beef and CB frozen whole chicken.
INCREASES OVER NINE-MONTH PERIOD
CAC noted that over a nine-month period, January to September, the average prices of Anchor full cream milk powder and white bulk rice increased by 20 per cent and 13 per cent, respectively. This was followed by a four per cent and three per cent increase in the average prices of Brunswick sardines and Lasco readi-milk skimmed milk powder, respectively.
The average prices of Lasco enriched milk powder, hard dough bread (both variants surveyed) and Worthy Park Estate pre-packaged dark sugar increased by two per cent, it shared.
At the same time, CAC said the average prices of Kendel mackerel, Miracle corned beef, coarse bulk cornmeal and Gold Seal counter flour declined by three per cent. This was followed by a two per cent decline in the average price of Nupak corned beef. The average prices of Serge sweetened condensed milk, Grace mackerel, Golden Grove pre-packaged dark sugar, bulk counter flour, Grace corned beef, Uncle Sam’s cooking oil and Lider cooking oil declined by one per cent.
As it relates to ground provisions for the same period, data revealed that imported sweet green pepper increased by 186 per cent; plummy tomatoes increased by 81 per cent; local scallion, ginger, and Scotch bonnet pepper increased by 24, 10, and 65 per cent, respectively.
Further, data showed that local Irish potatoes, thyme, and onion saw increases of 31, 19, and five per cent, respectively.
There was no movement in the prices of imported red cabbage, pineapple and dasheen.
FULL FORCE OF THE LAW
On Wednesday, Senator Aubyn Hill, minister of industry, investment, and commerce, had vowed to clamp down on businesses that are suspected of price gouging.
“Nobody can question my commitment to be pro-business, unabashedly, unashamed. But I am just as clear that if businesses aren’t following the rules, the agencies that I have, and the authorities that I have within the law, will be used at full force,” he declared.
Anyone suspected of price gouging can be held criminally liable to a fine not exceeding $2 million or to a term of imprisonment with or without hard labour not exceeding two years, the CAC said.