The Tribune

By KHRISNA RUSSELL

Tribune Chief Reporter

krussell@tribunemedia.net

FALLOUT from the COVID-19 pandemic has caused people to tighten their purse strings, Super Value President Rupert Roberts has said, while noting “more and more” shoppers have been relying on the store’s food stamps to shop.

Mr Roberts said prices were increasing all around, including on building supplies with items like plywood seeing an exponential increase.

This follows his prediction last month that grocery and meat prices will increase by eight percent and 10-12 percent respectively by Christmas.

Mr Roberts told Tribune Business that a combination of increased demand, as the Bahamian and global economies continue to reflate following COVID-19, combined with soaring freight and trucking costs and other supply chain bottlenecks, were all feeding into increased food prices.

Super Value has a programme that gives shoppers stamps after purchases, which can be redeemed in the future for a discount on your grocery bill.

Asked yesterday if this meant there was increased use of food stamps, Mr Robert said: “Of course, they are using more and more of the stamps. I have seen some get the stamps from that day’s purchases and cash them right there and then.

“People have it tight and some families are finding it very difficult to budget.”

He continued: “It’s like plywood. It’s gone from $17 to $71 dollars or $81.”

For 32-year-old single mother NaKesia Nairn, her Super Value food stamps have been a “life saver” as she lives from pay cheque to pay cheque.

Ms Nairn, a mother-of-two children, said the stamps have come in handy when money runs short.

“A lot of times when we run short on milk or eggs or juice, I’ve had to scrape up stamps to be able to get the things we use on a daily basis,” she said. “Many times, I don’t have physical money, so they come in handy, a life saver really.

“To tell you the truth I have had to use them more than I want to, but I am thankful that at least I have the stamps to fall back on.”

Married mother-of-one Darlene Samuels said in years gone by, she’d wait until the holidays to use her stamps, which she saved for the entire year.

But now, she’s had to use them several times this year already.

Mrs Samuels said: “You know I used to be excited to use all my stamps (at) Christmas. By that time each year, I usually saved up between $100 to $300 stamps from shopping all year.

“The situation has changed a little. My husband is not working as much as he used to because of the pandemic and the same goes for me. So, sometimes I go to the store with $30 or $40 in stamps and it helps.”

Mr Roberts told Tribune Business last month shoppers would feel the pinch by Christmas.

“It looks like by Christmas it’s going to be at least eight percent, and possibly a 10 percent, increase,” he disclosed at the time.

“It’s feeding in every day, and by the time we’re getting on to Christmas we’re going to have the full effect. Some grocery articles will be up in the vicinity of eight percent, and meat and poultry probably by 10-12 percent. That’s a big pill....

“Freight and trucking costs are really playing hell with all of it. By October/November we’ll see things increasing up to 8-10 percent, which is beyond this country’s control. Just buy as you need and don’t over stock the pantry.”

Mr Roberts instructed Super Value’s buyers to “lock in all you can, even at higher prices, if you suspect they’re going to go higher. I thought Christmas would catch us by 5-8 percent higher, but it now looks more like 10-12 percent higher as the country opens up and the US gets back to normal”.

The Super Value chief further acknowledged that “prices continue to jump” as inflation continues to pick-up in many countries with the post-COVID reflation.

Much of the increase has been attributed to the re-opening of the Bahamian, and global, hospitality and tourism industries. Hotels and restaurants are ramping up supplies as guest numbers increase, while the return of the cruise ship industry and its Nassau home porting has also caused a local demand rise.