Jun 2016 Financial News

Inflation increases to 3.2 per cent

Jun 22, 2016

T&T’s inflation rate increased to 3.2 per cent last month, the latest data from the Central Statistical Office (CSO) shows.

The Index of Retail Prices for May based on data collected in the survey of retail prices during that month, shows that the rate was up from the 3.1 per cent which was recorded for the period January to April 2016/January to April 2015.

The inflation rate for the comparative period, January to May 2015/January to May 2014, was 6 per cent.

Index of Retail Prices was 104.2 for the month, while the Index for food and nonalcoholic beverages decreased from 109.2 in April to 109.0 last month—a decrease of 0.2 percentage points. Contributing significantly to this decrease was the general downward movement in the prices of fresh whole chickens, fresh carite, fresh king fish, Irish potatoes, milk based beverages, instant coffee, Milo, cheddar cheese, oranges and fresh salmon.

The CSO said the full impact of these decreases was offset by increases in the prices of ochroes, carrots, eddoes, celery, macaroni, cucumber, frozen whole chickens, carbonated soft drinks, pumpkin and other pasta products (excluding macaroni).

There was an increase in the sub-indices for alcoholic beverages and tobacco of 0.3 per cent, clothing and footwear of 0.3 per cent, and health of 0.3 per cent. All other sections remained unchanged.

Source:
Trinidad Guardian, A15
Wednesday June 22, 2016