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Inflation falls to 4.4 per cent
T&T’s inflation rate has fallen from 7 per cent at the beginning of 2013 to 4 per cent at the end of November, data from the Central Statistical Office (CSO) has confirmed. CSO data provided by the Central Bank of T&T show that November inflation stood at 4.4 per cent, up from October when it was 2.7 per cent, but down from the beginning of the year when Central Bank Governor Jwala Rambarran said it was “just over 7.0 per cent.”
Last month Central Bank Governor Jwala Rambarran had said: “A key mandate of the Central Bank is price stability, which roughly translates into keeping underlying inflationary pressures well contained. Inflationary pressures have eased over the course of 2013. After beginning 2013, at just over 7.0 per cent (year-on-year), headline inflation slowed to about 4.5 per cent by November 2013.
“The slowdown in inflation was largely associated with a steady fall in food price inflation reflecting increased domestic production of agricultural supplies, more favorable weather conditions, and an easing of global food prices. Meanwhile core inflation, which excludes food prices, has been low and stable over the first eleven months of the year, ranging between 2-3 per cent, and indicative of relatively subdued demand pressures.”