The Supermarket Association of Trinidad and Tobago (SATT) says price increases may be on the horizon depending on what the budget brings.
The 2020/2021 fiscal package will be delivered by Finance Minister Colm Imbert on October 5.
Speaking with Guardian Media Wednesday morning Rajiv Diptee, SATT president said customers would have to pay more, “Depending on if new taxes are introduced, any shifts in Forex availability or possible erosion in the exchange rates.”
Diptee explained 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.
Speaking on CNC3’s The Morning Brew, Diptee said supermarkets are not to be blamed for most of the prices that have already been raised.
He said these increases come from suppliers. He made it clear that supermarkets are “not price makers but price takers.”