Recently, Economic Affairs, Entrepreneurship and Technological Innovation (EZ) Minister Rishma Kuldipsingh issued a warning against abrupt price increases for bread. The trigger was a social media post that featured a picture of Fernandes bread. Once more, the cost was raised to SRD 46.50 for 8 loaves.
According to the minister, she was unaware of the price hike. If a business wants to raise prices, they must follow a notice order. Without the Ministry’s consent, price increases are not permitted. Price hikes are only permitted if the exchange rate has in fact increased, the minister emphasized.
The minister has declared that there would be a study into potential price rises for goods sold in stores. Companies are required to formally support their request for an increase in compliance with the notification decision.
Before approving, the Department will assess and investigate the request. In recent days, the price has been on the decline. The price of one euro at the moment’s exchange rate is less than SRD 40.