Stacy Bradshaw, a vendor and mother says she may have to engage more financial partners in order to survive in the new projected economy.
The woman made this statement while commenting on an analysis made by the Bank of Guyana which projects that inflation will double by the end of the year.
“If cost of living double I don’t know what go happen. A pound of sugar is $300 already, flour everything gone up, everything just raising, you ga get $40,000 to get good ration. You ga get three man now, a weekend man, a monthly man and a fortnight man,” she said.
Our team also sought comments from other citizens who expressed pessimism over this projection.
Davia Dhanram,a fruit vendor said “Well this whole nation is gonna suffer because things are really bad and when it go double the cost what go happen then? Sometime you ga eat a meal and don’t eat a next.”
Meanwhile Enin, a shopper, was not aware of the estimate made by the Bank, but when she learned the news she was in shock. The woman related “Please help us, the oil gone up, everything gone up. You have to put more on the table.”
Keith Gill, a bus driver said “Things in this country very bad cause a lot of people in this country is single parent and then the wages it can’t compromise.”
To this end, they have recommended that the Government provide a cash grant to bring relief to all Guyanese.
Since the beginning of this year, the prices of a number of goods have increased significantly.
So far the Government has offered relief in a number of ways. Only recently, each household in riverine communities received a cash grant worth $25,000. Earlier in the year, the removal of taxes on fuel as well as the mining sector were also instituted.
Inflation measures the increase in the price of goods and services. Or, the decrease in the buying power of the dollar.
Cost-of-living measures the change, up or down, of the basic necessities of life, like food, housing, and healthcare.