Prices Up 3.9% In Trinidad & Tobago

• Average prices in Trinidad and Tobago (T&T) last month were 3.9% higher than in September 2022, according to the September Retail Price Index report of the Central Statistical Office (CSO).
• The Retail Price Index is a weighted average of the proportionate changes in the prices of a specified set or ‘basket’ of consumer goods and services between two periods of time. The RPI monitors the prices of a fixed basket of goods and services in 15 areas (locale) in T&T.
• The report indicated that the average prices of food and non-alcoholic beverages were 4.7% higher in September 2023 than in September 2022. Notably, the Index for food and non-alcoholic beverages increased from 147.0 in August 2023 to 148.2 in September 2023, reflecting an increase of 0.8%, according to the CSO.
• Additionally, there was a 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. 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.
• The CSO noted that a further review of the data for September 2023 compared with August 2023 reflected an increase in the sub-index for alcoholic beverages and tobacco of 0.3%. Notwithstanding, this period showed a decrease in the sub-index for clothing and footwear of 0.7% and health of 0.1%.

(Source: Trinidad and Tobago Guardian)