CSO reveals slight decline in food price index, shares Consumer Price Index Report

Port of Spain, Trinidad and Tobago: The Central Statistical Office (CSO) shared a slight dip in the food price index for March 2024 in its latest edition of the Consumer Price Index Report on Wednesday. As per reports, the inflation rate remained the same.

The CSO reports that there is an increase in the inflation rate by 0.8 per cent in the month of march 2024, as compared to March 2023.

“This is unchanged from the rate recorded in the previous period (February 2024/February 2023). The inflation rate for the comparable period (March 2023/March 2022) was 7.3%”, the CSO reports stated.

The reports further added that the Index for Food and Non-Alcoholic Beverages experienced a decline of 1.2 percent this year. In February 2024, there was a decrease from 147.9 and 146.2 in March.

“Contributing significantly to this shortage was a general decline in the prices of fresh chicken, cucumber, cheddar cheese, tomatoes, table margarine, fresh king fish, fresh carrot, soybean oil, celery and banana”, the reports mentioned.

It is to be noted that the reduced inflation on the mentioned items was balanced by the general increase in the prices of the following items,

• Oranges
• Grapes
• Hot peppers
• Melongene
• Bodi
• Ochroes
• Pumpkin
• Frozen whole chicken
• Parboiled rice

The CSO said that the data for March 2024 showed a 1.1% increase in the sub-index for alcoholic beverages and tobacco as compared to February 2024. It said that the sub-index for clothing and footwear also declined by 0.2% during the same period. However, it said that all other segments remained unchanged.

The people across the nation expressed their frustration due to an increase in the price of the basic food items. They took to their social media handle (Facebook) to condemned the decision of CSO.

Some of the comments read as,

“What “dip” are they referring to? Still paying the same or more for basic food items. That’s why I don’t pay much concern to half lies and innuendo from statical agencies! All well and good to food the people but for how long?”, quoted one.

“Because when the price high people don’t buy. Let them keep raising it, it will just stay there, let the rich buy it”, commented another.