Trickle-down effect ‘not that simple’
THE MATTER of easing prices for consumers now that oil prices have dropped has three sides: the Minister of Consumer Affairs Donville Inniss; the director general of the Barbados Consumers Research Organisation, Malcolm Gibbs-Taitt, and president of the Barbados Chamber of Commerce & Industry (BCCI), Tracey Shuffler.
A plea for ease comes from Gibbs-Taitt to those Barbadian businesses that are not passing on the savings they’re getting from reduced energy costs to consumers.
He said, if they were, it would be reflected in less expensive items and services, similar to the reduction in electricity bills.
In response, Shuffler said the situation was not as straightforward as that. She explained that the trickle-down effect on pricing was largely dependent on the health of the business and competition in the market. (SP)
Please read the full story in today’s Sunday Sun, or in the eNATION edition.