Jul 2013 Financial News

Inflation slows to 5.6 per cent

Jul 08, 2013

The Retail Price Index for May released by the Central Statistical Office (CSO) shows headline Inflation at 5.6 per cent—a decrease from 12.6 per cent for the comparative period last year.

Food Price Inflation was 9.6 per cent. This was in part due to increases in the prices of ochroes, chive, thyme, limes, dasheen, celery, melongene, christophene, Irish potatoes, whole chickens and mangoes. The Index for Food and Non Alcoholic Beverages showed a 1.0 per cent increase in prices for the period April to May due to increases in the price of limes, chives, thyme, tomatoes, melongenes, sweet potatoes, christophenes, cucumbers, dasheen, Irish potatoes and green pigeon peas.

However, the full impact of these increases was offset by the general decrease in prices of hot peppers, celery, oranges, paw paw, ochroes, avocado, carite, cavali, mangoes and bodi.

Core Inflation which filters out the impact of food prices was 2.4 per cent, an increase of 0.2 per cent over the comparative period for last year. This increase was due ito increases in Miscellaneous Goods and Services (6.5 per cent), Health (5.3 per cent), Education (5.2 per cent), Hotels, Alcoholic Beverages and Tobacco (4.8 per cent), Hotels, Cafes and Restaurants (4.3 per cent), Recreation and Culture (3.0 per cent) and Transport (2.3 per cent).


Source:
Trinidad Guardian
Monday July 8, 2013

http://www.guardian.co.tt/business/2013-07-08/inflation-slows-56-cent