Agreement on Revised Price Deal

Government and this country’s business sector have agreed a revised prices compact aimed at controlling the cost of living.

The announcement was made at a news briefing by Senior Minister responsible for coordinating the Productive Sectors, Kerrie Symmonds.

He notes that the previous agreement expired on January 31st and confirms a new deal has been reached in discussions between the government and the retailers, manufacturers and distributors.

The deal limits the mark-ups on 47 items.

Mr. Symmonds outlined the new agreement.

While the Barbados Agricultural Society said last week that farmers will no longer be a part of the compact, Mr. Symmonds indicates that pork producers and poultry farmers have agreed to participate in the new deal.

Meantime, speaking during the news conference President of the Barbados Chamber of Commerce &Industry , Anthony Branker, noted that while the agreement limits mark-ups , prices may still fluctuate.