Government of Belize to introduce price control measures in light of widespread price gouging

By Zoila Palma Gonzalez:  The Cabinet, chaired by Prime Minister John Briceño met on Tuesday, August 22 and continued its discussion on the rising cost of living and the introduction of price controls on food products.

The cabinet noted that price control is a temporary measure designed to alleviate the cost of living.

The Government of Belize hopes to bring relief to those who have been bearing a disproportionate burden caused by the dramatic increases in the cost of basic products.

“This policy measure has become necessary because of widespread price gouging. Despite the reduction in costs of goods internationally, there has been very little price reduction on many imported goods,” a statement from the Government said.

Cabinet added that this applies to goods imported recently, after a reduction in acquisition costs.

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