Over the years the Ministry of Industry, International Business, Commerce and Small Business Development has given priority to enabling consumers in Barbados to be more informed about matters that impact on their choices as it relates to purchases. For as the Ministry sees it, “an informed consumer is a more discerning consumer”.

In the past, my Ministry has sought to inform consumers of the prices of a "basket of consumer goods” at various outlets through the print media. This approach was archaic and placed a strain on the Government’s purse. 

To overcome these short comings, the Ministry has developed a web based database which, except for the cost of its design, would thereafter incur no additional costs to the Government, while at the same time providing more efficient costs to the Government, while at the same time providing more efficient information to the public.

The Price Monitoring Data Base presents an improved and enhanced approach to gauge and track the movements of food commodity prices and more emphatically to make the information acquired more accessible to the public and consumers alike. It is a tool which will inform consumers of the possibilities of getting value for their money.

Additionally, the data base will serve as a mechanism which enables policy makers to keep abreast of international price movements and allow them to respond appropriately. In this regard, it is envisaged that the database will provide for a more effective and efficient means of data collection while serving as a tool to undertake analysis to assist in the formulation of national policies and strategies aimed at addressing cost of living issues. Furthermore, it is also a useful tool for the average consumer to utilize in making decisions geared towards enhancing their purchasing power and their choice of purchase of a particular basket of goods. 

The Price monitoring database will allow consumers to: 

1. Select a number of supermarkets he/she intends to shop at.

2. Select a basket of “consumer goods”.

3. Compare the prices for that “basket of goods” at the various outlets.

4. Compute the cost of the “gasoline” to drive from current location to each outlet.

5. Display the shortest route from current location to each outlet.