Business
0.2% decline in inflation
October inflation drops to 0.2% as food prices rise, offset by lower costs in vegetables and homeownership.
Port of Spain, Trinidad & Tobago – The inflation rate in October 2024 saw a slight decline, dropping to 0.2% from 0.4% in September.
The Food and Non-Alcoholic Beverages Index rose by 0.4%, driven by price increases in items such as chicken, tomatoes, sweet peppers, rice, margarine, fish, melon, and frozen chicken. However, these hikes were partially offset by lower prices for Irish potatoes, cucumbers, carrots, and other vegetables. Other sectors also saw price increases, with notable rises in alcoholic beverages at 0.5%, clothing at 0.9%, rent at 0.4%, and household goods at 1.4%. Meanwhile, home ownership costs experienced a decrease of 0.4%, and other sections remained stable.
