Saturday, November 6, 2010

Current Events QTR 2 Week 3: Inquiry in Fiji over grocery price reductions

In Fiji prices for food are drastically being cut. Some of  the countries largest supermarkets removed important grocery items in protest at their price reduction. Many customers are fumed at this and are complaining about the removing of the products, because most of the products are essential items. The supermarkets are going to put the items back on the shelf but they say "the mandatory price reduction has made the items uneconomical to sell."

This in my opinion is not very good because the price is so low that if they sell a lot then their economic state will be horrible. That is bad because if that happens then their economy in Fiji will drastically go down and the entire country will probably have to raise the price maybe by 300% (but probably less). This in turn will affect the whole country and put it in a state that the US is in right now with debt and high prices. So in conclusion this drop in prices has grocers fumed and customers mad because some products are not being put on the shelves.

http://www.radioaustralianews.net.au/stories/201011/3059601.htm?desktop

1 comment:

  1. It seems rather odd that they would be doing this. Is this some sort of government plan to stimulate the economy?

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