THE inflation rate for June was down to .7% over June 2023.
The Central Statistical Office (CSO) in a release on Thursday stated, “The Inflation Rate for June 2024, which measures the percentage change in the All Items Index for the month of June 2024 over June 2023, was 0.7%.
“This represents a decrease from 0.9% which was recorded in the previous period (May 2024/May 2023). The Inflation Rate for the comparative period (June 2023/June 2022) was 5.8%.”
It stated that the All Items Index calculated from the prices collected for the month of June 2024 was 123.7, representing an increase of 0.1 points or 0.1% above the All Items Index for May 2024 as shown in the table attached.
The Index for Food and Non-Alcoholic Beverages increased from 147.4 in May 2024 to 148.6 in June 2024, reflecting an increase of 0.8%.
Contributing significantly to this increase was the general upward movement in the prices of tomatoes, parboiled rice, fresh whole chicken, Irish potatoes, pumpkin, brown sugar, celery, ochroes, chives and green sweet peppers.
However, the full impact of these price increases were offset by the general decrease in the prices of cucumber, fresh carite, fresh king fish, cheddar cheese, frozen whole chicken, fresh red fish, fresh salmon, soyabean oil, table margarine and grapes.
A further review of the data for June 2024 compared with May 2024 reflected an increase in the sub-index for Alcoholic Beverages and Tobacco of 0.2%.
This period also showed a decrease in the sub-index for Clothing and Footwear of 0.9%. All other sections remained unchanged.
