A scene during one of the controls.
PHILIPSBURG--Several major supermarkets such as CostPro, Daily Supermarket, Carrefour and Sunny Foods have been controlled and fined for selling some products in the basket of goods at a price higher than established by the Minister of Tourism, Economic Affairs, Transport and Telecommunication (TEATT).
Fine amounts start from NAf. 250 to a maximum of NAf. 10,000, the Inspectorate of Economic and Transport Affairs (IETA) said in a press statement on Tuesday.
Over the past week, Economic Controllers have been busy executing controls in various supermarkets for compliance with the most recently updated basket of goods, which went into effect October 20, 2023.
“Effective price controls act as a safeguard against inflation, ensuring that the cost of essential goods and services remains reasonable and accessible to the public,” it was stated in the release. “This, in turn, contributes to social equity and helps prevent undue financial burdens on vulnerable sectors of our population.”
The release said price controls will continue and IETA is calling on big and small supermarkets to comply to strike a balance between market forces and the well-being of the populace.
The TEATT Ministry has created the website
www.maxpricesxm.com to inform the community on price developments, regulations and more. The public is urged to use this platform to view the most current basket of goods price list, report violations and shop around based on price comparisons and weekly specials.
A control in progress.
IETA said well-implemented price controls are essential for sustaining growth, ensuring fair competition, and protecting consumers.