Senior Reporter-Business
geisha.kowlessar@guardian.co.tt
The Central Statistical Office (CSO) has reported an increase in the inflation rate by 0.3 per cent.
There has also been an increase in the price of some food items.
In a statement issued yesterday, the CSO noted that the inflation rate for February 2024, which measured the changes in the all items index for the month of February 2024 over February 2023, was 0.8 per cent.
This represents an increase from 0.3 per cent which was recorded in the previous period (January 2024/January 2023).
The inflation rate for the comparative period (February 2023/February 2022) was 7.6 per cent.
Meanwhile, the CSO added that the all items index calculated from the prices collected for the month of February 2024 was 124.1, representing an increase of 0.1 point or 0.1 per cent above the all items index for January 2024.
The index for food and non-alcoholic beverages increased from 147.4 in January 2024 to 147.9 in February 2024, reflecting an increase of 0.3 per cent.
Contributing significantly to this increase was the general upward movement in the prices of fresh king fish, fresh carite, cucumbers, cabbages, white flour, table margarine, grapes, fresh whole chicken, eddoes and melongene.
However, the CSO noted that the full impact of these price increases were offset by the general decrease in the prices of tomatoes, Irish potatoes, oranges, soya bean oil, celery, chive, mixed fresh seasoning, plantains, pumpkin and dasheen.
The CSO said further review of the data for February 2024 compared with January 2024 reflected an increase in the sub-index for alcoholic beverages and tobacco of 0.2 per cent.
Also, this period showed a decrease in the sub-indices for clothing and footwear of 0.1 per cent and health of 0.1 per cent.
All other sections remained unchanged.