Basket of goods increases by $24 for average household
The Consumer Affairs Division is urging members of the public to be vigilant and shop wisely during the Christmas period, as it said it has observed an increase in the basket of goods from January to September 2017.
This Basket of Goods includes the basic necessities which an average household consumes on a monthly basis. The selected products contained in the basket, which impact consumers across all income groups, were derived from a Basket of Goods Survey conducted by the Consumer Affairs Division of the Ministry of Trade and Industry in 2014.
In an attempt to keep consumers informed, the Division’s staff monitors the prices of items at supermarkets and publishes the data quarterly in print and electronic media.
The Basket of Goods, comprising 118 selected food items, is applied to 39 supermarkets in 20 geographic locations in Trinidad and Tobago. A similar exercise is conducted by the Consumer Affairs Unit (CAU) of the Tobago House of Assembly (THA) at eight supermarkets on the island.
The Division has noted an optic in prices at supermarkets in the first three quarters of 2017 as it relates to the basic Basket of Goods. In Quarter one, the sample basket of goods averaged $1,580.79, which is slightly lower than Quarter two prices of $1,597.01, representing an increase of $16.22. In Quarter three, the cost of the overall basket was $1,621.34, a further increase of $8.11. This reflects a total increase of $24.33 from January to September.
For the month of December, the Consumer Affairs Division will publish the prices of basic food items along with the prices of items that are frequently purchased during this time of the year. In addition to the supermarket prices, poultry prices collected at depots throughout Trinidad will be published on the Consumer Affairs Division’s Facebook page.
Members of the public are reminded that, in addition to price monitoring, the Division continues its educational drive with the intent of empowering consumers through knowledge, information sharing and sensitization on consumers’ rights and responsibilities.
Officers of the Consumer Affairs Division are available to answer any questions members of the public may have and also to deliver lectures and facilitate sessions on consumerism.
To learn more about the Division, please contact us at 623-2931 extension 1902-1915, message them on Facebook @consumeraffairstt or send an email at email@example.com.