Finance and Economy Minister Geoffrey Wever has warned that Aruba price controls on basic-basket products may not guarantee lower overall shopping bills, according to an October 25 report by 24ora.
Basic basket covers about 1,300 products
The report says the regulated basic basket limits prices on approximately 1,300 products. Wever’s concern is that businesses may increase prices on items outside that list to compensate for their expenses.
This is an assessment of a possible effect, not confirmation that every retailer has raised unregulated prices or that a particular household has paid more.
Overall purchasing power remains the test
According to Wever, savings on regulated essentials could be reduced by higher prices on other purchases. He said the basic-basket approach therefore needs continuing evaluation of its effectiveness, market impact and effect on daily consumer spending.
The source does not announce a new price list, a change in regulated margins or a date for revising the system. Its reported development is the minister’s assessment of the existing policy.
Source: Read the original 24ora report.
