June 21, 2016: The Central Statistical Office is pleased to announce the release of the Index of Retail Prices for the month of May 2016. The information is based on data collected in the survey of retail prices during the month of May 2016.
Index of Retail Prices
The Index (All Items) was 104.2 in May 2016 which was also recorded in the previous month (April 2016) as shown in the table attached.
The Index for Food and Non-Alcoholic Beverages decreased from 109.2 in April 2016 to 109.0 in May 2016, reflecting an decrease of 0.2 percentage points. Contributing significantly to this decrease was the general downward movement in the prices of fresh whole chickens; fresh carite; fresh king fish; Irish potatoes; milk based beverages; instant coffee; milo; cheddar cheese; oranges; and fresh salmon. However, the full impact of these price decreases was offset by the general increase in the prices of ochroes; carrots; eddoes; celery; macaroni; cucumber; frozen whole chickens; carbonated soft drinks; pumpkin; and other pasta products (excluding macaroni).
A further review of the data for May 2016 compared with April 2016 reflected an increase in the sub-indices for Alcoholic Beverages and Tobacco of 0.3%, Clothing and Footwear of 0.3%, and Health of 0.3%. All other sections remained unchanged.
Inflation Rate
The Inflation Rate for May 2016 (measured as the percentage change in the Index for January to May 2016/January to May 2015) was 3.2%. This represents an increase from 3.1% which was recorded in the previous period (January to April 2016/January to April 2015). The Inflation Rate for the comparative period (January to May 2015/January to May 2014) was 6.0%.
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For more information please contact:
Communications Department
Ministry of Planning & Development
Government of the Republic of Trinidad and Tobago
Level 13, Eric Williams Financial Complex, Independence Square
Port of Spain, Trinidad
Tel: 627-9700 ext 1457
Website: http://www.planning.gov.tt/