An Outspoken Economist and Financial Analyst Calls for a More Direct Approach to Address Inflation on Island
Economist Peter Queeley has called for a more direct approach to addressing inflation on the island.
Mr. Queeley was commenting on public concerns about the high cost of living since the coronavirus began especially with regards to food, transportation and housing.
He says an option for the government to address the issue is direct fiscal intervention.
Mr. Queeley also calls for a collaborative approach as everyone on Montserrat has an interest in seeing the cost of living reduced to a manageable level.
Peter Queeley
The high cost of goods and services is being felt worldwide, since the pandemic began in 2020.
A survey by the international market research institute shows that three in five people or 60% in a poll of nearly 18,000 conducted from May 22 to June 5 say costs have increased somewhat or a lot during the COVID-19 Pandemic.
The government of Montserrat in an earlier statement on the matter says the prices on goods and services on the island reflect costs internationally.
Among the steps it has taken is to reduce taxes on natural juices, most items on clothing, sanitary products and health supplements.