Beautiful Virgin Islands

Monday, Oct 06, 2025

VI facing cost-of-living crisis over inflation- Shaina M. Smith-Archer

VI facing cost-of-living crisis over inflation- Shaina M. Smith-Archer

BVI Chamber of Commerce and Hotel Association (BVIVVHA) Chairperson, Ms Shaina M. Smith-Archer has raised as troubling "a cost-of-living crisis" in the Virgin Islands as a result of "imported inflation" that has trickled its way into commodity prices.

Mrs Smith-Archer was speaking on JTV’s the Big Story with host Cathy O. Richards on August 16, 2022.

Cost of Living Crisis


“The biggest thing right now, whether we want to call it this or not, we have a cost-of-living crisis, and the cost of doing business is linked to the cost of living so one of the biggest struggles again is for business to try to maintain normal prices."

Mrs Smith-Arched added; however, that as a result of global increases in prices and inflation rates as much as 12% outside of the VI, those prices have started to trickle into the VI economy.

“When we go to the grocery store, we have to close our eyes at check out because of the sticker shock, so it isn’t something where persons are just trying to profit,” she added.

The BVICCHA Chairman noted, “A lot of it is in reaction to what is happening in the global market that is going to translate back to here,” she said while adding that local businesses are looking for alternate suppliers to get the best prices for local consumers.

BVI Chamber of Commerce and Hotel Association (BVIVVHA) Chairman, Ms Shaina M. Smith-Archer has raised as troubling, what she called a cost-of-living crisis in the Virgin Islands as a result of imported inflation that has trickled its way into commodity prices.


Public/Private address to issue


Mrs Smith-Archer, touching on inflation mitigating measures, said the Government can step in a negotiate with the private sector stores to make essentials more accessible to families who need them the most.

She said in the case of the VI, the government can negotiate for concessions in sales tax, import taxes or energy.

Pointing to a similar initiative in Barbados, Mrs Smith-Archer said the Government can negotiate with the major supermarkets for the provision of essentials at a lower cost.

She also called for more to be done as it relates to the reduction of the cost of electricity, “If the price of electricity is being driven by the price of oil, then we need to look for fuel from other sources”, she added.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
×