Bahamas to introduce value controls on dozens of key meals staples By Reuters

(Reuters) – The Bahamas on Wednesday outlined the main points of non permanent value management measures geared toward serving to households courageous mounting international inflation, saying they’d have an effect on 38 key staples, comparable to eggs, bread and sanitary towels.

Prime Minister Philip Davis introduced the controls in a nationwide handle on Tuesday as a part of broader measures to assist the island nation, which imports many items, deal with the results of rising value pressures globally.

The controls, which restrict value will increase to fifteen% for wholesalers and 25% for retailers, take impact from Monday and can final six months, after which they are going to be topic to overview.

“The prime minister stays assured that these further measures will present aid to Bahamian households,” the federal government stated in a press release.

Davis additionally stated on Tuesday the federal government would lower revenue margins on price-controlled medicine.

He introduced the primary minimal wage hike since 2015 to $260 every week from $210 beforehand, starting retroactively from July for public sector staff and at first of subsequent 12 months for personal sector employees.

Davis additionally unveiled a $6 million funding in new protection vessels to shore up border safety, saying the nation didn’t have the assets to take care of a wave of undocumented migrants.

The Bahamas has, in accordance with its protection drive, apprehended extra migrants up to now this 12 months than within the earlier three calendar years mixed, amid a gradual rise in sea-bound vessels looking for to achieve america.

Bahamian immigration authorities reported the apprehension of 68 migrants at sea over August, largely from Cuba.