Government officials have signalled a stronger push to curb supermarket price gouging, amid mounting public frustration that official inflation figures do not match what consumers face at the checkout counter.
The assurance came yesterday during a sitting of the Joint Select Committee on Finance and Legal Affairs, which examined food security, nutrition policy and consumer protection.
Candice Lackhansingh, director of Strategy, Business Facilitation and Programme Management in the Ministry of Trade, Investment and Tourism, disclosed that the Consumer Affairs Division (CAD) conducts monthly supermarket price monitoring but is legally unable to penalise retailers suspected of overpricing.
“We can publish prices and advise consumers to shop around, but the current legislation does not give us enforcement power,” she said, adding that draft amendments are being prepared to “provide more teeth.”
Committee member and former Finance minister Dr Vishnu Dhanpaul asked why official figures do not align with shoppers’ experiences.
“To the ordinary Trinidadian on the supermarket floor, this has not been translated onto the shelves,” he said. “The inflation rate could never be single-digit based on what they are seeing.”
Permanent Secretary Abigail Bynoe said the ministry has begun reviewing the CSO’s basket of goods to ensure it reflects changing consumption and nutritional patterns. However, while the ministry can influence prices through tariffs and trade policy, she said it cannot set or enforce supermarket prices.
Chairman Dr Marlene Attz urged a more coordinated “whole-of-government” approach to identifying essential food items, warning that cost alone should not dictate food-related policy.
The issue of whether tariff reductions translate into lower retail prices was raised by MP Brian Manning. Dr Attz then questioned whether new legislation should penalise price gouging and whether any investigations result in penalties.
Director of Food Facilitation Neville Alexander replied, “Short answer: it should. Does it? It depends.”
He said while the ministry tracks prices before and after tariff changes, it can only “inform the public” when savings are not passed on.
Contacted yesterday, Supermarket Association president Biondi Bachew rejected claims of price gouging, insisting reduced Common External Tariffs are reflected on shelves.
“The Ministry of Trade’s Consumer Affairs Division collects price data monthly across 40 stores and publishes it on their website and in the newspapers,” Bachew said.
“So the public can see for themselves. If those figures are used to calculate inflation, then the numbers are reflective of what’s on the shelf.”
Bachew added that supermarket members have also removed VAT where applicable.
“That removal is reflected in the prices customers see in store,” he said.
