#BTEditorial – Cost of living keeps rising; we need an ease

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hile the crime and education crises have mostly taken up the headlines in recent times, the escalating cost of living remains top of mind for many of us.

If we pay attention to all aspects that contribute to living costs, it is evident that the burden we carry is untenable.

The private sector has made it clear that it has no interest in renewing or reintroducing the social compact with the government which was first signed in July 2022 to reduce the price on 47 items. This means all roads lead to the government in terms of producing a plan of action.

The costs of food, goods and services, fuel, and tax rates – individually and collectively – are having a serious negative impact on spending power and for the most vulnerable, it is an insurmountable challenge.

This week we reported on a Democratic Labour Party (DLP) town hall meeting held Sunday where Opposition Senator Ryan Walters charged that we are currently in a “cost of living crisis”.

He reported: “In December 2023, oil was $77 a barrel. Now it is $72, but we’re still paying the highest fuel prices we’ve ever seen — $4.20 per litre at the pump. Where is the relief? Why hasn’t the government passed on those savings to the people?”

At every turn, be it a press conference, public briefing, Senate debate, the political platform or guest columns published in Barbados TODAY, he has skillfully made a case for an ease in the brutishly high cost of living.

While there has been no official response from the government, it is up to us, the consumers, to continue to agitate. We need an ease. This cost-of-living load must be lightened.

During his speech on Sunday, Senator Walters urged the government to take responsibility.

“When we talk about the cost of living, it’s not just about food prices. It’s the price of fuel, transportation, housing — everything is getting more expensive, and our people are being left to fend for themselves. We are in a cost-of-living crisis. The government cannot be allowed to hide behind the private sector and pretend it is not their responsibility. Over the last six years, the public of Barbados has carried a significant financial burden, and we are no better off for it.”

But the opposition senator has not been the only voice.

Executive Director of Barbados Consumer Empowerment Network (BCEN) Maureen Holder has been strongly agitating as well. The group has issued statements expressing concern about “the trend of escalating prices that make it increasingly difficult for individuals and families to afford essential goods and services”.

They too have challenged the government – and others – to step in.

“BCEN is calling on the government, businesses, and stakeholders to take immediate and concerted action to address the increasing prices to mitigate the negative impact on consumers. Now is the time for the government to use some of its regulatory power to intervene and administer effective regulatory oversight to achieve a more equitable and sustainable economic environment for consumers in Barbados,” one of the statements read.

While some have welcomed the introduction of the government’s PriceCheck app which allows consumers to check and compare prices at supermarkets, both Walters and the BCEN have raised valid concerns about the app’s inability to provide relief for consumers.

BCEN stated: “Consumers must think about whether having access to price data necessarily translates to more savings, or could it be the case that retailers will still maintain high prices across the board?

“BCEN wants to make it clear to consumers that listing prices in an app does not automatically lead to savings. Price information is not the same as lower prices. The app can show consumers where prices are higher or lower, but it cannot guarantee that prices will actually drop. The public should be aware that lower prices come from true market competition and consumer demand, not simply from being listed in an app.”

Walters challenged the government: “You cannot feel that you have done something for consumers by telling them where to shop.”

Comments on social media and the call-in programmes also suggest that some consumers do not see how the app will help. Many have said that in our small country, most people know where to get bargains.

The general sentiment is that instead of an app simply listing prices and places, Bajans would be better off with ease in food costs, fuel costs and taxation. Some even mentioned transportation costs, given the number of buses they must take daily and the rise in taxi costs as well.

Relief is needed. At this stage, no app, no failed compacts, no promises can suffice; only tangible mechanisms to address the cost of living.

We urge the government to take note and to realise that while the senator and BCEN may be at the forefront championing a reduced cost of living, their sentiments and what is articulated are very much felt by the entire society. We need an urgent ease.