EXHIBIT 23.1

               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

We consent to the incorporation by reference in this Annual Report (Form 10-K)of
PriceSmart, Inc. of our report dated November 2, 2001, included in the 2001
Annual Report to Stockholders of PriceSmart, Inc.

Our audits also included the financial statement schedule of PriceSmart, Inc.
listed in Item 14(d). This schedule is the responsibility of the Company's
management. Our responsibility is to express an opinion based on our audits. In
our opinion, the financial statement schedule referred to above, when considered
in relation to the basic financial statements taken as a whole, presents fairly
in all material respects the information set forth therein.

We also consent to the incorporation by reference in the Registration Statements
(Form S-8 No. 333-38345 and No. 333-61067) pertaining to the 1997 Stock Option
Plan and the 1998 Equity Participation Plan and (Form S-3 No. 333-36546, No.
333-42374, No. 333-60812 and No. 333-67106) of PriceSmart, Inc. and in the
related prospectus of our report dated November 2, 2001, with respect to the
consolidated financial statements of PriceSmart, Inc. incorporated by reference
in its Annual Report on Form 10-K for the year ended August 31, 2001 and the
related financial statement schedule included therein, filed with the Securities
and Exchange Commission.

                                              /S/ ERNST & YOUNG LLP


San Diego, California
November 27, 2001