Aug 2015 Financial News

Inflation steady at 5.5%

Aug 03, 2015

HEADLINE inflation in the country held steady at just over 5.5 per cent in June, the Central Bank said yesterday.

Core inflation slowed marginally to just below two per cent, the bank said in its latest Monetary Policy announcement.

“However, the Monetary Policy

Committee expects inflationary pressures to pick up in the remaining months of 2015 due to a number of factors, the bank said.

Food inflation accelerated for the first time in 2015 spurred by rising input costs (specifically poultry) and falling supply associated with the outbreak of a pest in the Dominican Republic, a major source market for fruits and vegetables. In June 2015, food inflation rose to 9.7 per cent. The advent of the rainy season raises the possibility of flooding and may lead to additional disruptions to domestic agricultural supply, further pushing up food inflation, which drives headline inflation.

Earlier yesterday, Food Production Minister Devant Maharaj said in a statement that food price inflation in May according to the Central Stattistical Office stood at 8.5 per cent.

Source:
Trinidad Express
Saturday August 1, 2015

http://www.trinidadexpress.com/20150731/business/inflation-steady-at-55