KINGSTON, Jamaica – Significant volatility is reshaping the economic landscape at Kingston’s iconic Coronation Market this week, with dramatic price fluctuations affecting key agricultural products. The most startling surge has been observed in the Scotch bonnet pepper market, where prices have escalated to an unprecedented $5,000 per pound. This represents a staggering increase of over 50 percent compared to prices recorded just one week prior, placing considerable strain on consumer budgets.
Adding to the inflationary pressure, tomato prices have also climbed sharply. Consumers are now facing an average market rate of $800 per pound, a notable jump from the previous week’s price point of $600 per pound. This consistent upward trend in staple produce is impacting household spending across the city.
However, the market narrative isn’t uniformly negative. In a contrasting trend, sweet pepper prices have experienced a substantial cooldown. Vendors are currently offering the product for as low as $600 per pound, a significant reduction from the $1,000 per pound rate seen a week ago. This price correction offers a respite for consumers and highlights the unpredictable nature of agricultural commodity markets.
For a comprehensive breakdown of all current market prices and expert on-the-ground analysis, viewers are encouraged to watch the latest episode of ‘Market Bag,’ hosted by Brittania Witter, which provides detailed insights into these evolving economic conditions.