The authorities have no instrument to control prices of commodities and services on the Mauritian market
13 years, 1 month ago - March 04, 2011
The ICP believes that when there is a fall in prices on the world market, traders in Mauritius do not adjust the prices accordingly
Mauritius imports 70% of its total consumption which comprises mainly food. Every change in commodity prices on the world market impacts on the retail price that the Mauritian consumers have to pay for these products.
The source from ICP said the authorities have no instrument to control prices of commodities and services available on the market. Mauritius, he added, is one among the only countries where the free market causes much abuse.
Rising food prices are a morphing global concern, partly fuelling the protests which toppled the rulers of Tunisia and Egypt in January and February, which in turn unleashed unrest in North Africa and the Middle East from Algeria to Yemen.
The U.N. Food and Agriculture Organisation’s Food Price Index hit its second straight record last month, further passing peaks seen in 2008 when prices sparked riots in several countries, driven by rising grain costs and tighter supply.
