Analysis of Changing Food Prices in New Providence, Bahamas, 2017-2023

Erecia Hepburn, John Oluwadero and Allison Karpyn

Farm and Business - The Journal of the Caribbean Agro-Economic Society, 2024, vol. 16, issue 01

Abstract: The United Nations has set the year 2030 as the year to end hunger, food insecurity, and malnutrition (SDG Targets 2.1 and 2.2). With less than six years left to achieve the 2030 global targets, there are concerns in many countries, including small island developing states, about rising food prices. The objective of this study was to investigate food availability and prices over a 5-year timeframe (2017 & 2023). The study collected primary data directly from stores in New Providence, Bahamas. Twenty-seven stores and fifty-six stores were surveyed in 2017 and 2023, respectively using purposeful sampling methods. The prices of selected staple items were standardized to reflect the price per unit and/or price per pound of the items and then the mean prices between years were compared using an independent samples t-test of unequal variance (Welch’s Test) and, for food availability, a chi-square test of independence. Of the fourteen products examined, nearly all demonstrated a significant increase in price, with the exception of grits and pigeon peas, which remained the same, and sugar, which decreased. Product availability remined stable, with only availability of tomatoes decreasing, and mayonnaise increasing. Overall, these findings raise important questions about the price of a healthy diet in the Bahamas.

Keywords: Agribusiness; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:fabtho:348843

DOI: 10.22004/ag.econ.348843

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