Chamber of Commerce president Shomari Scott says, while local businesses are feeling the pinch from growing inflation, they are trying to keep prices as low as they can.
However, Scott, speaking on Wednesday’s episode of the Cayman Compass’ Facebook talkshow The Resh Hour, said prices will inevitably go up.
This comes as US consumer prices, widely expected to be flattening, increased for a second consecutive month with a larger than expected monthly increase of 1.3% in June.
Compared to last year, prices were 9.1% higher – the highest inflation rate in 40 years, which Scott said will have an impact here.
Watch the interview here.
- Advertisement -
Related Videos
