Trinidad & Tobago: Inflation drops to 0.3% in July

• Although there was a slight decrease in inflation for July in Trinidad and Tobago, food prices continued to rise during the month, according to the Central Statistical Office's (CSO) Consumer Price Index.
• The CSO in its Consumer Price Index release said July 2024’s inflation rate over July 2023 was 0.3%, which represents a decrease from 0.7% recorded in the previous month (June 2024/June 2023).
• The CSO noted that the Inflation Rate for the comparative period (July 2023/July 2022) stood at 4.7%. However, the July 2024 all-items index was 123.9 points, a 0.2% increase from June 2024.
• The index for food and non-alcoholic beverages increased by 0.7% from 148.6 in June 2024 to 149.6 in July 2024. Increases were also noted for alcoholic beverages and tobacco (1.7%), clothing and footwear (0.1%), home ownership (0.7%), rent (0.1%), health (0.1%), communication (0.1%), recreation and culture (0.4%), hotels, cafes and restaurants (0.9%) and miscellaneous goods and services (0.1%).
• However, the CSO stated there were decreases in the sub-indices for furnishing, household equipment, and routine maintenance of the house by 2.2% and transport by 0.5%.

(Source: Trinidad and Tobago Guardian)