CSO: June inflation at 4.7%, prices up by 1% overall

The content originally appeared on: Trinidad and Tobago Newsday

In this file photo, Liza De Verteuil does her grocery shopping at Massy Stores, Mandalay, Arima. Photo by Angelo Marcelle

The inflation rate – calculated as the percentage change in average of all items – for the period January to July 2022 was a 4.7 per cent increase from the same period in 2021, according to the Central Statistical Office’s (CSO) index of retail prices, released to the media on Sunday.

The CSO said the rate represented an increase from the rate calculated from January to June 2022, which stood at 4.5 per cent.

The inflation rate for January to July 2021 was 1.3 per cent.

The CSO said the index of retail prices indicated that there was a 1.5 per cent increase for all items up to June 2022.

Food and non-alcoholic beverages increased from 132 price points in June to 135.8 – a 2.9 per cent increase.

Increases in prices of rice, white flour, tomatoes, ochroes, melongene, green pepper, chive, celery ketchup and white bread contributed to the increases in prices.

“However, the full impact of these price increases was offset by the general decreases in the prices of green pigeon peas, fresh whole chickens, fresh king fish fresh carite other chilled or frozen chicken, carrots, hot peppers, garlic, other fresh pork and salted pig tail.”

The CSO also noted incremental increases in alcoholic beverages and tobacco, clothing and footwear, housing, water, electricity, gas and other fuels, furnishings, household equipment, and routine maintenance of the house.

Health, transport, recreation and culture, hotels cafes and restaurants and miscellaneous goods and services also increased.

All other sections remain unchanged.