Food inflation plummets
By SEAN DOUGLAS Saturday, June 23 2007
LEGAL and Consumer Affairs Minister Christine Kangaloo boasted that food-price inflation fell from 26 percent last November to 18 percent as of March. She made this disclosure at Thursday’s post-Cabinet media conference at Whitehall.
Kangaloo revealed that the cost of fresh food sold at supermarkets has become a lot closer to prices charged at local markets, as shown by Ministry figures. To make the point, she divulged figures from her Ministry’s food-price surveys done over the past six months at supermarkets and markets in Port-of-Spain (November 2006 to June 2007) and Tunapuna (December 2006 to May 2007).
“Of the 28 fruits and vegetables surveyed at the Port-of-Spain Central Market, 17 items showed price increases, ten items showed decreases and one item fluctuated.” She said conversely, the Port-of-Spain supermarkets saw a fall in the prices of 17 items and a rise in the prices on 11 items.
“Supermarket prices remained higher overall but there were more decreases in fruit and vegetable prices in the supermarkets than in the market. More importantly, over the period there was a narrowing of the gap between prices at the supermarket and prices at the Central Market,” Kangaloo said.
She said that in December, 28 items surveyed cost some $46 extra in the PoS supermarkets than if bought at the Central Market and by this month the food-basket cost $23 more. At Tunapuna, in December, the 28-item basket had cost $32 more in the supermarkets compared to the Tunapuna Market and by May this price-gap fell to a mere $7.
“Overall, for the period under review, there were more decreases than increases in the price of fruits and vegetables at the supermarkets and markets.”
Kangaloo noted Central Bank Governor Ewart Williams’ praise for the positive impact and possible “calming effect” her Ministry’s regular publication of food prices had. She read his March newsletter which in part stated: “Greater comparison-shopping continues to impact on the prices of fruit and vegetables, significant items in the consumer food basket”.
Can someone tell me what fockin planet this ape loving, bald head mudder cont living on ?