May 2013 Financial News

Food price inflation down

May 27, 2013

For the first time since October 2011, food price inflation moved to the single digit region, reaching 9.4 percent in April, compared to 26.2 percent for the same period last year, and 15 percent the year before.

So said Food Production Minister Devant Maharaj in a release yesterday as he noted the recent Central Bank Semi-Annual Report indicated “an increase in domestic supply of some food items may have helped to dampen the impact on prices as weather conditions were generally favourable”.

The report went on to state core inflation, which excludes food prices rose marginally to 2.4 percent in April, up from 2.2 percent in March. Maharaj thanked farmers, personnel of the Ministry of Food Production and other stakeholders for their continued efforts and support of the work of the Ministry in helping it to realise its goals of increasing food production and reducing inflation.


Source:
Newsday
Sunday May 26 2013

http://www.newsday.co.tt/business/0,178244.html