Displaying items by tag: food staples

Details have been outlined of temporary price control measures aimed at helping families to cope with mounting global inflation. The measures will affect 38 key staples such as eggs, bread, and sanitary towels. Prime minister Philip Davis announced the controls in a national address as part of broader measures to help the island nation, which imports many goods, to tackle the effects of rising price pressures globally. The controls, which limit price increases to 15% for wholesalers and 25% for retailers, will last six months, after which they will be subject to review. The prime minister remains confident that these additional measures will provide relief to Bahamian families. He also said the government would cut profit margins on price-controlled drugs and unveiled a $6 million investment in defence vessels, as they do not have the resources to deal with waves of undocumented migrants.