Today’s story about the Economic Control Inspection revitalising and expanding its price monitoring on popular consumer goods is most welcome. It’s no secret that the cost of living in St. Maarten is relatively high, certainly in light of the average salaries, so whatever can be done short of directly intervening in the private sector would seem helpful.
By publishing price comparisons, consumers are at least enabled to make more conscious decisions on where to buy what. This can also promote healthy competition between the businesses involved.
No mention was made of the so-called basic goods for which Government does historically set maximum prices. The content is rather outdated and the Windward Islands Chamber of Unions (WICLU) has been asking for its expansion since early 2013.
Efforts took place in that direction and the Department of Statistics conducted a household budget in 2015 with cooperation of several major supermarkets. However, to what extent changes were actually made and whether they are being actively enforced remains unclear.
Adding too many products to the basket of essentials is in any case not the most ideal way to deal with the problem, because it affects the natural market processes and mechanisms that characterise a free market system. A well-informed and aware public is probably the best way to keep merchants honest.
