Bakers pondering price increase
Jerome Reynolds, Gleaner Writer
Bakers are now crunching the numbers to determine what level of increase is to be added to the prices of baked products.
This is in response to Monday’s price increases announced by the Jamaica Flour Mills.
The company said its price increases are influenced by the continued devaluation of the Jamaican dollar and the rising cost of wheat on the global market.
However, President of the Bakers Association of Jamaica, Audrey Lecky, said bakers were surprised by the announcement, as they had expected that the company would have delayed the price adjustments.
Lecky stresses that this comes as bakers are already facing increases in other input costs.
She said bakers will try as best to contain the level of increase which will have to be absorbed by consumers.
Meanwhile, the bakers’ association president laments that members are being burdened by the cost of fuel, which she says effects the cost of electricity.
Lecky said the energy minister needs to indicate what steps he plans to take to reduce the cost of electricity.
Like our new Facebook page http://www.facebook.com/gleanerjamaica
Follow us on Twitter http://twitter.com/JamaicaGleaner