CSO: Inflation rate at 5.8% for September

The content originally appeared on: Trinidad and Tobago Newsday

A shopping cart filled with fresh produce. –

The Central Statistical Office (CSO) has reported a 0.4 per cent decrease in inflation for the month of September, according to a release of its retail price index on Tuesday.

The inflation rate – measured as a percentage change in the average all items index – for January to September 2023/2022 was 5.8 per cent, compared to 6.2 per cent for January-August 2023/2022.

The inflation rate for the previous comparative period (January-September 2022/2021) was 5.1 per cent.

CSO said the all items index of retail prices was 123.6, representing an increase of 0.2 points or 0.2 per cent above the index for August.

The index for food and non-alcoholic beverages increased from 147.0 in August to 148.2 in September, reflecting an increase of 0.8 per cent.

Contributing significantly to this increase was the general upward movement in the prices of Irish potatoes, chilled or frozen beef, fresh beef, chilled or frozen pork, cucumber, chive, soya bean oil, onions, mixed fresh seasoning and other chilled or frozen chicken, the release said.

However, the full impact of these price increases was offset by the general decreases in the prices of pumpkin, fresh whole chicken, table margarine, parboiled rice, white flour, oranges, tomatoes, grapes, eddoes and fresh steak.

“A further review of the data for September compared with August reflected an increase in the sub-index for Alcoholic Beverages and Tobacco of 0.3 per cent. Also, this period showed a decrease in the sub-index for clothing and footwear of 0.7 per cent and health of 0.1 per cent. All other sections remained unchanged,” the release said.