Pricing slashed at the English Market
Food prices are going up almost everywhere in Bermuda because of inflation — except the English Market in Hamilton.
Next week, grocery store owner Fabio Iannone plans to bring the price down on all his fruits and vegetables.
“For example, right now iceberg lettuce is $4.05,” he said. “Next week the price will be $2.50. Lemons are 85 cents today. Next week they will be reduced by ten cents.”
Mr Iannone said: “I want people to know that while inflation goes up, I am doing my best to lower my prices for our customers. Times are hard for everybody. Instead of taking advantage of being on an island, where you don’t have much choice, I want to work for the people.”
He is confident that he will soon have the cheapest fruit and vegetable prices in town.
“But cheap in price, not quality,” he said. “They are good quality. I am bringing in my own products to be exclusive to my store.”
Mr Iannone said it was challenging to find the right supplier, but once he did, he was able to cut his prices by 20 to 30 per cent.
He said rising food costs are impacting his customers a great deal.
“Food prices are going up everywhere in the world,” Mr Iannone said. “It is happening in the US and in Italy. They say inflation is 2.5 per cent, but I think food prices in Bermuda have gone up more than that. Eggs for example were $3. Now they are $5.”
He has not yet been able to lower his egg prices, but hopes to do that soon by taking a similar tactic.
He tries to buy locally grown foods such as carrots and bananas as much as he can.
He started the English Market on the lower level of the Washington Mall in Hamilton a year ago, after working in the restaurant industry for several years.
At first, he aimed to bring in mostly high-end European products but quickly had to pivot when he saw the market was not there for more expensive items. He still brings in English brands of cookies, teas and other products, but also brings in less expensive brands of basic foods like oatmeal.
“When I started the English Market I did not expect things to be so challenging,” Mr Iannone said. “But you have to be on the ball; otherwise you get lost. I am always looking for the cheaper option in terms of price. You have to keep updating things and looking for new products.”
He was expecting the new vegetable prices to hit next Tuesday, but said it depended on when the items were released by Customs.