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The rate of inflation in Trinidad and Tobago has started climbing again.

Headline inflation rose in the month of September, after having slowed to a historic low of 0.6 per cent in August.

Headline inflation, measured by the 12-month increase in the Index of Retail Prices, rose to 2.5 per cent in September.

This has been attributed to increased food prices.

The Central Bank said in a statement yesterday that based on figures from the Central Statistical Office (CSO), food inflation rose by 4.3 per cent on a year-on-year basis to September, after declining by 0.3 per cent in August.

Higher international food prices may also have begun to impact several categories of the domestic food basket, the CBTT said.

Faster year-on-year increases were reported for breads, cereals, milk, cheese, eggs, oils and fats and sugar and confectionery products.

Fruit prices also accelerated to 39.2 per cent, year-on-year, to September, from 38.4 per cent.

In contrast, prices slowed for meats and fish and also declined for vegetables.

Core inflation, which excludes the influence of food prices, edged up to 1.3 per cent from 1.2 per cent in August.

“With inflationary pressures remaining well-contained so far and credit conditions improving, the Bank views the present accommodative stance to be appropriate and has decided to maintain the repo rate at 3.0 per cent,” the CBTT stated.

“The Bank will continue to keep economic and monetary conditions under close scrutiny in the coming months.”

Source: Trinidad Express Newspaper