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In an import-led economy, price changes often occur well before goods and services reach supermarket shelves.
The observation comes from the Barbados Chamber of Commerce and Industry (BCCI) amid recent calls by Prime Minister Mia Amor Mottley for corporate Barbados to review retail profit margins.
The Prime Minister’s concerns centre on ensuring fair pricing and greater transparency for consumers, particularly in light of the economic challenges facing the country.
However, BCCI President Paul Inniss noted that international shipping costs, currency fluctuations, tariffs and supplier pricing all influence the final retail prices paid by consumers.
