ACCORDING to the UN’s Food Agriculture Organisation Food Price Index, international prices of certain commodities are on the decrease.

In June 2023, the index declined by 1.7 points to the lowest level in more than two years as a result of a drop in the indices for sugar, vegetable oils, cereals and dairy products.

Locally we have been fortunate to benefit from the global reduction of food prices in the form of a reduction in the cost of flour. Unfortunately, this decrease has not resulted in a concomitant reduction in the price of flour-based goods.

This is unsurprising, as studies have shown that in Trinidad and Tobago food price increases are greater than price decreases and occur more regularly.

Past and present governments have been reluctant to tackle climbing food prices by imposing price controls. While serving as a minister, Conrad Enill stated that calls for the government to introduce price controls on food were impractical. According to minister Enill, the removal of VAT was as far as a government could go.

Current Minister of Trade and Industry Paula Gopee-Scoon has expressed a similar sentiment. She too cited the zero-rating of items and the suspension of the common external tariff on over 20 basic food items as two of the methods utilised by the Government to manage food prices in lieu of price controls.

Unfortunately, consumers have rarely ever benefited from the removal of VAT on goods. Months after the elimination of the tax, prices seem to remain the same or are higher.

In spite of international geopolitical considerations and the sometimes extortionate pricing practices by local retailers, consumers still possess the power to effect change in the cost of goods.

As consumers, we have a right to choose. Put plainly, we have the choice to boycott certain items completely or drastically reduce our spending on them.

It is our responsibility to be informed about new and existing alternatives in the marketplace and utilise them. The law of demand and supply still underpins our free-market economy.

If we do not buy the wheat-based breads, pastries and other items, suppliers of these goods will be forced to reevaluate their prices.

There is also power in negative publicity. We as citizens should utilise all forms of media to call upon suppliers of goods to reduce prices. Lest you doubt the effectiveness of this strategy, remember that KFC was forced to renege on its two-dollar charge for condiments following widespread excoriation on social media.

As citizens, we can either sit back and repeat the same cries for Government intervention whenever there is a price hike, or we can exercise the powers we do possess. The ball is in our court!

Janelle John-Bates attorney-at-law