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Inflation rate slows down
...Figure decreases to 5.6%
Story Created: Jul 5, 2013 at 9:16 PM ECT
Story Updated: Jul 5, 2013 at 11:30 PM ECT
This represented a decrease from 12.6 per cent for the comparative period May 2012/May 2011, the ministry said in a statement yesterday.
Food price inflation for the period May 2013/May 2012 was 9.6 per cent. This was in main part due to increases in the prices of ochroes, chive, thyme, limes, dasheen, celery, melongene, christophene, irish potatoes, whole chickens and mangoes. With regard to the Index for Food and Non Alcoholic Beverages, there was a 1.0 per cent increase in prices for the period April to May 2013.
This was in main part due to increases in the price of limes, chives, thyme, tomatoes, melongenes, sweet potatoes, christophenes, cucumbers, dasheen, irish potatoes and green pigeon peas, the statements said.
However, the full impact of these price increases was offset by the general decrease in prices of hot peppers, celery, oranges, pawpaw, ochroes, avocado, carite, cavalli, mangoes and bodi.
Core inflation which filters out the impact of food prices was 2.4 per cent for the period May 2013/May 2012, which reflects an increase of 0.2 per cent over the period May 2012/May 2011.
This increase was due in main part to 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), the statement added.
Inflation rate slows down
...Figure decreases to 5.6%
Story Created: Jul 5, 2013 at 9:16 PM ECT
Story Updated: Jul 5, 2013 at 11:30 PM ECT
The rate of inflation in Trinidad and Tobago has slowed.
The Retail Price Index for the month of May 2013 released by the Central Statistical Office (CSO), Ministry of Planning and Sustainable Development indicated that headline inflation was 5.6 per cent for the period May 2013/May 2012. This represented a decrease from 12.6 per cent for the comparative period May 2012/May 2011, the ministry said in a statement yesterday.
Food price inflation for the period May 2013/May 2012 was 9.6 per cent. This was in main part due to increases in the prices of ochroes, chive, thyme, limes, dasheen, celery, melongene, christophene, irish potatoes, whole chickens and mangoes. With regard to the Index for Food and Non Alcoholic Beverages, there was a 1.0 per cent increase in prices for the period April to May 2013.
This was in main part due to increases in the price of limes, chives, thyme, tomatoes, melongenes, sweet potatoes, christophenes, cucumbers, dasheen, irish potatoes and green pigeon peas, the statements said.
However, the full impact of these price increases was offset by the general decrease in prices of hot peppers, celery, oranges, pawpaw, ochroes, avocado, carite, cavalli, mangoes and bodi.
Core inflation which filters out the impact of food prices was 2.4 per cent for the period May 2013/May 2012, which reflects an increase of 0.2 per cent over the period May 2012/May 2011.
This increase was due in main part to 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), the statement added.
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