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 Supermarket head: Brace for rising prices

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Honeylu
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PostSubject: Supermarket head: Brace for rising prices   Tue Feb 01, 2011 9:20 pm

People go have to eat dirt jus now!


Quote :
President of the Supermarket Association Vernon Persad has warned citizens to brace for rising food prices.

Persad said the country is experiencing an increase in food prices because of the global commodity market.

“Commodities are going up because of what is happening globally in the various regions due to the severe climate conditions and it is not going to better soon...we won’t be able to combat high food prices, if the majority we consume comes from abroad, farming community,” he said.

He was responding to the Central Bank’s recent Repo rate announcement which indicated rising food prices drove the year-end headline inflation rate to 13.4 percent compared with 12.5 percent in October.

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