Exumians To Bear Brunt Of Rising Costs

NASSAU, BAHAMAS – Residents on Exuma – like every other island – will have to dig deeper into their pockets as the inflation rate rises.

Despite an economic boost following the recent regatta, a representative for the business community says operators have no choice but to pass on costs to consumers.

As gas prices reach as high as seven dollars a gallon on Exuma due to rising prices, Exuma Chamber of Commerce Vice President Urban Smith says businesses are feeling the brunt of it.

He says businesses don’t have many options.

His comments come as Bahamians have complained of a remarkable increase in food prices, as well as, the price of fuel.

Back in February, Super Value CFO Debbie Symonette said there seems to be no end in sight for escalating prices.

Principal Owner of the Peace and Plenty Resort Collection Steve Harrington says they’ve been absorbing the extra costs, but admitted that eventually, it will have to be passed on to patrons.

Prime Minister Philip Davis recently told reporters the government will do all in its power to alleviate the pressure on residents.

Meanwhile, Smith is reminding Exuma businesses that the chamber is opening to assisting struggling businesses.