Dec 2016 Financial News

October inflation at 3.2%

Dec 02, 2016

The inflation rate increased to 3.2 per cent in October, up slightly from 3.1 per cent, according to data released yesterday by the Central Statistical Office (CSO). The inflation rate for the comparative period—January to October 2015/January to October 2014—was 5.3 per cent.

The Index of Retail Prices for the month, based on data collected in the survey of retail prices during the first two weeks of October, was 105.2, representing an increase of 0.2 point or 0.2 per cent above the All Items Index for September.

Prices for food and non-alcoholic beverages decreased by 0.6 per cent from 111.4 in September to 110.7 in October.

The CSO data shows that there was general downward movement in the prices of fresh whole chickens, powdered full cream milk, Irish potatoes, cucumber, carrots, eddoes, garlic, cabbage, full cream milk, and fresh shrimp.

However, these price decreases was were offset by increases in the prices of hot peppers, oranges, fresh carite, brown sugar, lettuce, melongene, fresh king fish, ripe bananas, tomatoes and canned sardines.

There was an increase in the sub-indices for clothing and footwear of 2.4 per cent, while furnishings, household equipment and routine maintenance of the house was up by 0.4 per cent, health 2.8 per cent, hotels, cafes and restaurant 0.7 per cent and miscellaneous goods and services 0.3 per cent.

Decreases were recorded in the sub-indices for alcoholic beverages and tobacco of 0.2 per cent, and housing, water, electricity, gas and other fuels of 0.1 per cent.

All other sections remained unchanged.

Source:
Trinidad Guardian
Friday December 2, 2016

http://www.guardian.co.tt/business/2016-12-02/october-inflation-32