Economist & Private-Sector Heads Predict Slump For Trinidad And Tobago

• Several heads of various sectors of the economy believe Trinidad and Tobago is in for significant declines in 2022, as the pandemic persists and uncertainty looms. 
• Their comments came after the Central Bank on Friday issued its final Monetary Policy Announcement (MPA) for 2021 which said there would be further increases in food and core inflation. 
• "Food inflation surged to 7.6% from 5.8% in September and is likely to rise further given the situation in the global grain markets," it said. 
• The Central Bank pointed out that headline inflation in October moved to 3.9% year-on-year when compared to 2.4% in September. Core inflation, which excluded food, doubled to 2.9% and the index of building material prices rose by 12.6% during the third quarter of 2021. 
• Economist Dr. Vaalmikki Arjoon told Sunday Newsday that the increase in wheat prices has started a chain reaction that would further exacerbate an already high cost of living.

 

(Source: Trinidad and Tobago Newsday)