Caption: File: A fish vendor in Palmiste in Longdenville has tuna for sale during the 2023 Easter Weekend. AZP News/Sue-Ann Wayow
The Central Statistical Office (CSO) reports an 0.8% inflation rate for February 2024.
This rate measures the changes in the All Items Index for the month of February 2024 over February 2023.
The CSO revealed the latest Consumer Price Index on Monday.
It stated that the Inflation Rate for February 2024 of 0.8% denotes an uptick from the previous period, which recorded a rate of 0.3% (January 2024/ January 2023). The Inflation Rate for February 2023/February 2022 stood at 7.6%
The All Items Index, derived from February 2024 price data, reached 124.1. This signifies a marginal increase of 0.1 point or 0.1% compared to the January 2024 index.
Detailed Analysis:
- Food and Non-Alcoholic Beverages: The index for this category rose from 147.4 in January 2024 to 147.9 in February 2024, reflecting a 0.3% increase. Key contributors to this rise included fresh king fish, fresh carite, cucumber, cabbage, white flour, table margarine, grapes, fresh whole chicken, eddoes, and melongene. However, the impact of these price hikes was counterbalanced by declines in tomatoes, Irish potatoes, oranges, soya bean oil, celery, chive, mixed fresh seasoning, plantains, pumpkin, and dasheen.
- Alcoholic Beverages and Tobacco: This sub-index experienced a modest increase of 0.2% during February 2024 compared to the previous month.
- Clothing and Footwear: Conversely, there was a slight decrease of 0.1% in this category from January 2024 to February 2024.
- Health: Similarly, the Health sub-index witnessed a marginal decline of 0.1% over the same period.
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