CAC Reports Ease in Price Increases Between August and September

The Consumer Affairs Commission (CAC) has reported that between August and September 2024, there was a noticeable easing of price increases, compared to the sharp spikes seen in previous months.

Making a Ministerial Statement in the Senate on September 27, Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, said the Commission will continue to monitor the prices of goods to ensure that there is fair pricing for all Jamaicans.

“While West Indian Red Pepper still saw a significant 62 per cent price increase and Local Thyme followed with a 33 per cent rise, overall, price movements showed a slight decline,” he said.

“Of the 53 local and imported agricultural produce surveyed… 16 items or 30 per cent recorded price declines, ranging from one per cent to 11 per cent, indicating some stabilisation in market conditions. Some prices have actually gone down,” the Minister added.

He further noted that three agricultural items remained relatively constant, while 34 produce items experienced increases, but these were less severe, ranging from one per cent to 62 per cent.

On July 2, 2024, the Ministry of Industry, Investment and Commerce issued an order to support the fair sale of goods to protect Jamaican citizens from unwarranted price increases of in-demand items after the passage of Hurricane Beryl. The hurricane impacted Jamaica on July 3.

Since then, the Minister said, the CAC, which is an agency of the Ministry, has been active in the field gathering information to ensure that there is fair pricing of goods.

“They are active in the fields checking against numbers that we would have had from April and May, so we know what were the prices in the trades,” he said.

Source: JIS