Customers could pay more at supermarkets if new taxes are introduced in 2021 Budget

Customers could pay more at supermarkets if new taxes are introduced in 2021 Budget

Citizens are being warned that should there be any introduction of new taxes in next Monday’s budget, then prices of goods at the supermarkets may have to increase.

President of the Supermarket Association of Trinidad and Tobago (SATT), Rajiv Diptee, said “Depending on if new taxes are introduced, any shifts in Forex availability or possible erosion in the exchange rates,” customers would have to pay more.

Diptee, in an interview on CNC3’s The Morning Brew, said that these types of changes create shocks to prices as they create an increase in the cost of operation as well as have an impact on the cost of goods.

He said supermarkets are not to be blamed for most of the prices that have already been raised, as these increases come from suppliers. He made it clear that supermarkets are “not price makers but price takers.”

COMMENTS

WORDPRESS: 0
DISQUS: 0