Price Reduction Mandates Yields Consumer Benefits

Lower Prices Good For Federation Citizens

Lower Prices Good For Federation Citizens

Basseterre, St. Kitts – Nevis
August 07, 2009 (SKNIS)

Living up to its mandate to monitor the cost of living and seize opportunities to bring relief to the general public, the Government of St. Kitts and Nevis is pleased to announce a decrease in the price of rice.

Through its organ, the Supply Office of the Ministry of International Trade, Industry, Commerce and Consumer Affairs, a 100 pound bag of rice is now selling for $137.23 compared to the previous price of $178.66 representing a 30.2 percent saving to the consumer.  Similarly, a pound of rice is now being sold for $1.74 whereas previously it was $2.26.

The Supply Office is reflecting the price reduction due to a decrease in the price of rice on the world market.

In the recent past, the reduction of the price of cement and concrete blocks have been among services provided by the Ministry of International Trade, Industry, Commerce and Consumer Affairs.  The legislative measures enacted in 2007 and 2008 pertaining to the price control index on 29 food and non-food items as well as the removal of the consumption tax on 12 items have been included in the activities to ensure comfortable living by residents, particularly the poor, elderly and infants of St. Kitts and Nevis.

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