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Price gouging and overpricing to be fined

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Posted: Thursday, February 17, 2022. 1:35 pm CST.

By Aaron Humes: The cost of living continues to rise but Cabinet believes part of the issue is that merchants and shopkeepers may be taking too much profit.

This week, the Cabinet announced legislative and enforcement measures shall be taken on a prompt basis to punish price gouging offenders with strict fines per violation through a ticketing system.

A public reporting system will also be established for the reporting of overpricing of controlled items.

The Cabinet will also consider other protection and relief mechanisms, especially for essential items, as it continues to closely monitor price movements.

As of the end of December, inflation had risen nearly five percent year over year, mostly with regard to food and fuel prices. While the Government has been content to let fuel price increases through on the basis of needed tax revenue, many of the food price increases are on essential items including fruits, meats, and vegetables.

 

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