Preventative measures approved for price gouging on movable goods

The Head of the Inspectorate of Tourism, Economic Affairs, Traffic and Telecommunications (TEATT) Lucien Wilson, hereby informs the general public that the ministerial regulation titled “Regeling prijsvaststelling in verband met uitzonderingstoestanden 2018”/ Ministerial Regulation on Price Determination related to a state of emergency 2018, came into force on August 22, 2018.

The objective of this ministerial regulation is to set preventive measures for price gouging of movable goods (water, groceries, batteries, construction materials, etc.) which are needed during a state of emergency (for example a hurricane).

This regulation will remain in force until November 30, 2018. Willful violations of the regulation may include criminal prosecution and a fine of up to NAƒ10.000,-

The Inspectorate of TEATT would like to ensure that all hardware stores, supermarkets and suppliers of construction material are duly informed of the existence of this regulation and their obligation to comply with the established maximum prices once a state of emergency has been declared.

Additionally, booklets will be printed and distributed to the public containing a list of the regulated items and the maximum price at which they may be sold by retailers to assist the public when making purchases.