Inflation around 6.5% this year
- 24 Oct 2011
The Central Statistical Office precast for calendar year 2010, the inflation rate was 2.9%. On the basis of trends in previous years and recent price changes, the inflation rate for calendar year 2011 is estimated at around 6.5%.The inflation rate for financial year 2010/11 was 5.1%, while that for financial year 2009/10 was 1.7%.
The Consumer Price Index, which stood at 127.8 in June 2011, registered a net increase of 0.5 point (or 0.4%) to reach 128.3 in September 2011.
The main reasons for the net increase in the CPI from June to September 2011 were:
» higher food prices mainly meat, rice, milk and a variety of other food products;
» higher price of rum;
» higher prices of ready-made clothing;
» higher prices of washing materials and softeners;
partly offset by lower prices of vegetables, motor vehicles, telephone call charges.
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