When they reduced the duty on certain items last May, they said something about wanting to see the change reflected in the retail price. But should have started discussion of the price control then, allowign peope to make the decision of not stocking up and selling out what they had.

It is rather ignorant to think retailers could change their price in 4 days. When VAT was implemented, retailers had months to chage computer systems and prices.

So, yes, smaller retailers will drop what they can drop, as they cannot cost shift like the big guns.

Reducing duty does not accomplish much. These days, your VAT on customs import receipts is often much higher than duties.

I hope the retailers and wholesalers have the cojones to stand up for their rights.

Price controls were phased out decades ago. Except in Cuba and this country.

However, inflation was self inflicted after the pandemic and demagogues all over are bringing it back. So they decided to add more.

The grocers handle the existing list through loss leaders business methods, and cannot add these things in 4 days.

Folks who eat from breadbasket will not benefit from the new price control. They eat mackerel, not butterball sluiced turkey sandwich meat.

The public are the best price controllers. Have you noticed no one is buying 6 dollar eggs?

Even bakers can let go of eggs. There are things such as egg less bread and cakes.

People are not stupid.

The Price Control Commission will create more jobs for political operatives.

Some of the additional items do not need to ne price controlled. Take bananas, it is abundantly cheap and even rotten ones can be bought to make bread, if you control the price, merchants will stop buying.

Notice they increased the margins on eggs from 10% to 25%, just as the price of eggs are very high. I wish luck to merchants increasing egg prices as I have seen people grumbling in the stores over egg prices.

Some prices are there for optics, white potaros go for 4 dollars for a 5lb bag, why control the price? OTOH, the sweet potatoes are 3 dollars for 1 pound, and that is not controlled.

I could understand baloney being price cobtrolled, but not all "sandwich meat". Let the merchant make a killing on prosciutto , fresh market is selling at discount as even the rich ones cannot bear the price.

The study found that one in 12 or an estimated 4,000

Can this newspaper stop calling this a study?

It was poll, survey. No different from the poll you tick at the Tribune.

Bananas are just about the only fruit I can afford.
If he stops bringing in bananas and eggs people will riot.

He better tell the govt like it is.

The govt reduces the margins, but should reduce vat on the price control to 5%. They should give a little too.

You are right about businesses not knowing how to price.

There are not many making the current minimum wage where I work, but some will be there when the increase comes.

But, businesses, like governments, are slow to cut costs in the name of efficiency, rather raising prices instead. That makes them lose customers in the long run, as customers lose the habit of patronizing.

Also landlords are increasing rents like crazy in commercial buildings.

> We are also reducing the profit margin on price-controlled drugs, providing additional relief to Bahamians

The medications used to be vat free. So, the govt charges vat for itself, but reduces the profit margin of the business owner, who will have to raise the wages of a number of employees.

UB will just discredit themselves with this study.
I can smell the lack of scientific method from here.

A survey is not a damn study.

The expansion of price control is a horrible idea.
No merchant will markup chicken parts excessively, which duty is 10%.
But whole chicken and chicken breasts, which duty is 30%, made a large chicken cost 30 dollars. Could not imagine what a turkey will cost before Christmas. To control the price of chicken, but keep the duty at 30% is hipocrisy.

As for eggs, it was already price controlled, but people cannot tolerate 6 dollars for a carton.

This shall be a disaster. People do not understand paying extra towards the downpayment or baloon payment.

I knew two people who entered such an agreement. Both cashed in their extra deposit to live 'rent free' for a while. it was not free, it was prepaid!!!!!

One of them used his baloon payment to go on vacation and canceled the deal.

They were professionals.