1. In September 2021, Government has agreed to the re-establishment of the Price Observatory in order to enable inter alia consumers to make more informed and rationale buying decisions and to give consumers more visibility on prices of essential products.
2. The Price Observatory is a mechanism which has as the main aim to monitor the evolution of retail prices of commodities consisting of both food and non-food products and provide an interactive communication platform for the information, protection and education of consumers in order to promote and safeguard the interests and rights of the consumers through legal and institutional framework.
To that effect, the Consumer Protection (Price Observatory Committee) Regulations 2021, was promulgated with effect from 3 September 2021 and the Price Observatory Committee was set up on 26 November 2021 with the following objectives to:
A new methodology has been developed and adopted for the Price Observatory based on the experience gained on the previous Price Observatory. During Price Observatory Committee meetings to monitor the evolution of retail prices of commodities consisting of both food and non-food products for policy guidance and measures to protect consumers. The processes involved in the collection, compilation, analysis and dissemination of the monitoring report are interconnected. Prices are collected across more than 50 outlets from 10th and 20th on more than 450 products.
Manager, International College
9. Mr. Rajeev Pydayya (Co-Opted member)
GN 229 of 2021: The Consumer Protection (Price Observatory Committee) Regulations 2021