Turnbull proposes Consumer Price Index for BVI

Melvin ‘Mitch’ Turnbull

Second District Representative Melvin ‘Mitch’ Turnbull is calling for the implementation of a Consumer Price Index (CPI) and an independent consumer protection body to help control the rising cost of living in the Virgin Islands.

Turnbull said the CPI would serve as a tool to track price changes across essential goods and services such as food, rent, healthcare, and transportation. He argued that the economic strain on families and businesses is unsustainable without stronger consumer safeguards.

“For many residents in the BVI, making ends meet has become a daily struggle,” Turnbull stated. “From the price of groceries to rent, fuel, and even school supplies, our islands, though beautiful, are becoming unaffordable for the very people who live and work here.”

He explained that the CPI would allow the government to establish data-based price caps on essential goods, especially during economic downturns. “What if, based on CPI data, we establish price caps on essential goods and services like food and rent? Not to punish businesses, but to prevent exploitative prices,” he argued.

To ensure the CPI’s effectiveness, Turnbull proposed the creation of a regulatory body similar to the Financial Services Commission or the United States’ Consumer Financial Protection Bureau. This independent price control and consumer protection authority would monitor price movements, investigate suspicious price increases, and enforce penalties when necessary.

“The BVI must establish an independent price control and consumer protection authority,” he said. “It just serves as a watchdog ensuring that no business, no matter how big or small, is allowed to exploit economic hardship for profit.”

He also called for legislation that would empower this body with real authority. “We must also pass the legislation that allows this body to operate with real authority, granting it power to audit, to fine, and to hold businesses accountable,” Turnbull asserted.

Transparency is another key pillar of Turnbull’s proposal. He suggested that pricing data be published and updated regularly to allow the public full access to changes in the cost of living.

“This is not about stifling businesses. It is about creating an environment where businesses can thrive and people can afford to live,” he explained. “Let us act now for our children, for our seniors, for our community, and the future of these beautiful islands we call home.”