Cost-of-Living Task Force Reviews 2025 Gains,Prepares New Measures Amid GlobalUncertainty

Basseterre, Saint Kitts – The National Cost-of-Living Task Force remains actively engaged in
monitoring global volatility and advising the Government on appropriate measures to address
rising living costs. At its recent meeting on March 19, 2026, the Task Force reviewed the major
fiscal interventions implemented in 2025, which provided direct relief to citizens while helping
to support economic stability. These measures included the Budget Boost Wallet, which
delivered direct financial assistance to more than 23,000 persons; the six-month Value Added
Tax (VAT) Holiday, which reduced VAT from 17 per cent to 12 per cent; and the increase in the
national minimum wage to EC$500 per week.

The Task Force also gave careful attention to the continuing threat posed by global oil price
volatility, particularly in light of ongoing geopolitical tensions involving Ukraine and Iran.
Members noted that recent increases in the price of oil can have a ripple effect across the
economy, contributing to higher shipping costs, increased prices for imported goods, including
food items, and rising energy expenses. In response, the Task Force discussed a range of
possible mitigation measures, which will be submitted to the Federal Cabinet for consideration,
subject to further analysis and support from the Ministry of Finance.

In addition to fiscal intervention, the Task Force will continue to complement Government
action through its targeted consumer education campaign, ‘Smart Spend SKN’. Using data-
driven visuals, price comparisons and practical guidance, the campaign is designed to help
households make informed brand and product choices that can lead to meaningful savings over
time.

The Cost-of-Living Task Force was established to provide the Cabinet of the Government of Saint
Kitts and Nevis with evidence-based, implementable recommendations aimed at identifying and
mitigating the factors driving rising living costs, while proactively managing external shocks that
may affect the affordability of goods and services for citizens and residents.

— END —

The post Cost-of-Living Task Force Reviews 2025 Gains,Prepares New Measures Amid GlobalUncertainty appeared first on SKNIS.