Gopee-Scoon to Ameen: Get your food-price facts straight

MINISTER of Trade and Industry Paula Gopee-Scoon knocked MP for St Augustine Khadijah Ameen over what she described as “erroneous statements” about food prices.

At the UNC’s media briefing on August 18, Ameen said food prices were skyrocketing because of a lack of access to foreign exchange.

She said, according to Central Statistical Office (CSO) reports, the average price of food and non-alcoholic beverages rose by 8.6 per cent between July 2022 and July 2023.

On August 19, in a release from the Ministry of Trade, Gopee-Scoon highlighted more recent data from the CSO which pointed out that the average increase in food and non-alcoholic beverages over the period July 2023-July 2024 was 2.3 per cent, 6.3 per cent lower than the figure Ameen gave on August 18.

“The data presented by Ms Ameen was misleading as she dishonestly utilised information from two years ago, for the period July 2022-July 2023,” Gopee-Scoon said.

She said food prices from 2022-2023 were severely affected by major international events affecting global supply chains, such as the Russia-Ukraine war and issues with the Panama Canal.

She said the ministry’s Consumer Affairs Division, in its average retail price bulletin for 2024, marked decreases in 43 products, including poultry, fish, cereals and soya bean oil.

“This outcome was in part associated with the Government’s foreign exchange facility at the Eximbank, established in response to the covid19 pandemic to facilitate allocations to local importers for the purchase of basic food, pharmaceuticals and other related items."

She said the total amount provided to the facility by the Ministry of Finance between April 2020 and February 2024 was US$1.22 billion.

“As at June 30, 108 importers have accessed the facility to import a range of essential items such as rice, potatoes, brown sugar, dried peas and beans, prescription medication, soya bean oil and cheese,” the minister said. “The acceleration in the production of local goods particularly through initiatives supported by the Ministry of Agriculture, Land and Fisheries and the Ministry of Youth Development and National Service will be expected to contribute to a lowering of food prices.”

Gopee-Scoon cited the Central Bank’s TT Economic Bulletin for January 2024, which said headline inflation slowed significantly during the second half of 2023 as price increases for both food and non-food items eased.

“Therefore the MP for St Augustine is confused as to the year she is living in,” Gopee-Scoon said.

She said Ameen might be recalling the performance of the UNC/PP-led government, when inflation stood at 8.5 per cent in 2014.

“This poor performance by the UNC was characterised by a 71 per cent increase in food prices from 2010-2015,” Gopee-Scoon said. “The member for St Augustine should familiarise herself with statistical facts and ongoing government initiatives so as to provide a more intelligent, well-educated contribution to the public discourse.”