IN the bustling town of Gizo in the Western Province, residents are grappling with a significant surge in the prices of essential goods.
This sudden rise in prices has raised concerns amongst both consumers and local businesses and pose a great challenge to the overall provincial economy.
Shopkeepers in Gizo have observed an upward trend in the cost of various commodities, including food items, household items and other basic necessities.
The average price increase for goods is estimated to be around 15 percent since the beginning of last month.
This sudden surge has left many residents and people from other islands in the province struggling to meet their daily needs, exerting financial strain on families.
A local businessman in Gizo told Solomon Star yesterday that several factors have contributed to this rise in prices and this includes disruption supply chain caused by weather conditions which may have impacted on transportation of goods to Gizo, as well as limited access to transport and possibly damaged infrastructures.
“Moreover, the global increase in fuel costs have also played a significant role in driving up the prices of goods in Gizo.
“With rising transportation expenses, businesses are compelled to adjust their prices to cover the additional costs incurred in getting products to the region.
“This situation has further exacerbated the financial burden on consumers who are now forced to pay more for the same items they used to purchase at lower prices.
‘’For example, the price of a packet of navy biscuit has recently risen to $2.50 in most of the shops. In the past, it only costed $2 dollars per packet. The price of fuel was recently increased to around $15. 20 per litre and $14 dollars in some of the fuel depots in Gizo,” the businessman added.
An official of the Western Provincial Government (WPG) said that whilst the road to economic stability in Gizo may be challenging, residents remained resilient.
The Government Officer said it is hoped that the collaborative efforts of the community, local authorities and relevant stakeholders will help to mitigate the price surge and ultimately restore affordability and stability to the markets of Western Province.
By ULUTAH GINA
Solomon Star, Gizo