(Trinidad Express) The rate of inflation in Trinidad and Tobago has slipped to its lowest level in more than 40 years.
The latest data from the Central Statistical Office released by the Central Bank on Saturday showed a deceleration in the inflation rate.
Headline inflation, measured by the 12-month increase in the Index of Retail Prices, slowed sharply in June to 0.8 per cent from 3.9 per cent in May, the Central Bank said in its repo rate statement on Saturday.
“This rate is the lowest on record since October 1969 when headline inflation measured 0.6 per cent,” the bank said. This deceleration partly reflected the base effect associated with the sharp rise in the Index of Retail Prices during June.
On a monthly basis, though, headline inflation rose by 0.6 per cent in June following a decline of 0.4 per cent in May.
Food inflation decelerated to 0.1 per cent in June from 8.2 per cent in May, the bank said.
The decrease in food inflation was mainly led by the sharp decline in vegetable prices including tomatoes, cucumber and patchoi.
