In September 2021, Kiss Baking Company Limited, one of the leading brands of bread in Trinidad and Tobago had increased the price of its bread products by as much as 30 percent. In a release, Kiss had stated the rise in prices was due to the increase of shipping costs as a result of continuous strains on the supply chain worldwide due to Covid-19.
On Thursday Kiss has once again increased the price of its bread by 9%. This increase comes after National Flour Mills (NFM) announced an increase in the wholesale price of flour.
Before this new rise in price, the whole grain bread was $17 which is the minimum wage in Trinidad. With this new increase, it seems as if now even if you work an hour for minimum wage the average worker will not be able to purchase a loaf of bread in Trinidad.
In a media statement yesterday, NFM said that “soaring” wheat prices and supply chain delays were to blame for the suggested 19 percent retail increase in the cost of flour. The NFM continued on to state that with the increasing cost of wheat and freight globally, the NFM took the decision to increase the wholesale price of flour by between 15 percent and 22 percent, with a suggested increase averaging 19 percent on the retail price of flour to the consumer.
NFM has admitted that prices could rise again in the future, it seems has triggered a panic-like state in T&T as the T&T Doubles Association has issued a warning stating that the price of doubles could go up to $10.
With the average worker surviving on a 2019 wage and prices on the increase, the new year looks tumultuous at best as most barely manage to make it work with the salary given now.
The price increase will take effect on January 10th, 2022.