Shoppers can expect prices on some food items to drop by up to 40 percent when government-engineered cost reductions take full effect.
However, supermarkets warn that they will be unable to significantly change the prices on stock on which VAT and duties have already been paid and that other major price changes may not take effect from tomorrow as originally announced.
Prime Minister Mia Amor Mottley last week announced that in order to assist families government had secured an agreement with retailers, wholesalers, and farmers to slash the prices of a list of grocery items for six months, starting from tomorrow due to removing VAT, reducing customs duties and cutting mark-ups.
President of the Barbados Chamber of Commerce and Industry, Anthony Branker, explained to Starcom Network News why the full benefit of the plan may not be seen immediately.
Mr. Branker also disclosed that there are some other bureaucratic details to be completed before the full price cuts can take effect.
But he notes that when that does happen, the reductions on the listed items could be substantial.
Voice of: President of the Barbados Chamber of Commerce and Industry, Anthony Branker.