The Consumer Protection Commission (CPC) is clamping down on businesses that are allegedly increasing their prices in light of a higher demand for certain goods and services post-Hurricane Matthew.

The CPC cautioned businesses not take unfair advantage of consumers following the devastation left behind by Hurricane Matthew.

Guardian Business understands that some businesses selling building materials, in particular, have increased their prices amid the high demand for roof and structural repairs. The CPC spoke to the matter due to "reports and rumors of price gouging". The CPC said it appeals to all businesses, particularly those in the food, ice, water, hardware and lumber sectors to maintain their current prices for these and other items.

Scores of persons were seen at such businesses in fear of a shortage in supplies. Some persons are also in dire need of household items, building supplies and healthcare needs. The commission advised businesses to be mindful of the fact that in this "tough" economy, Bahamians are already struggling to make every dollar count.

"We wish to bring to these businesses' attention that any unfair price increases at such a time of crisis hurts a wide cross-section of persons, primarily the poor, single parents and the elderly. Therefore, we encourage a spirit of fair play and social responsibility during this stressful and trying time," said the CPC.

In addition to unfair price increases lamented by the CPC, the insured losses attributed to damage caused by Hurricane Matthew are estimated to be in excess of $400 million.

And, the cost of the storm is said to be more than Hurricane Joaquin's estimate of $100 million, according to Prime Minister Perry Christie.

The CPC asserted that, should reports of price gouging be proved, the commission would take the action available under the relevant act. In doing so, it would alert the government to instances of unfair pricing and bring the full brunt of the law to bear upon businesses and/or persons engaging in price gouging.

"Taking advantage of consumers when they are down and out is indeed a most shameful ungodly act," said the CPC.

It asks persons to report all incidents of price gouging to the CPC by calling 393-7795-7, contacting the commission on Facebook at cpcbahamas, emailing info@cpcbahamas.org or via its website at www.cpcbahamas.org.

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