The Central Statistical Office (CSO) has reported a 0.2 per cent decrease in inflation for the month of August, according to a release of its retail price index on Friday.

The inflation rate – measured as a percentage change in the average all items index – for January to August 2023/2022 was 6.2 per cent, compared to 6.4 per cent for January-July 2023/2022.

The inflation rate for the previous comparative period (January-August 2022/2021) was 4.9 per cent.

CSO said the all items index of retail prices was 123.4, representing a decrease of 0.1 points or 0.1 per cent above the index for July.

The index for food and non-alcoholic beverages decreased from 147.5 in July to 147.0 in August, reflecting a decrease of 0.3 per cent.

Contributing significantly to this decrease was the general downward movement in the prices of tomatoes, white flour, parboiled rice, melongene, ochroes, soya bean oil, chilled or frozen chicken, celery, cheddar cheese and eddoes, the release said.

However, the full impact of these price decreases was offset by the general increases in the prices of chilled or frozen beef or pork, fresh beef, whole chicken (fresh or frozen), Irish potatoes, plantains, green pigeon peas, steak (fresh) and garlic.

"A further review of the data for August compared with July reflected an increase in the sub-index for health of 0.2 per cent. Also, this period showed a decrease in the sub-index for alcoholic beverages and tobacco of 0.2 per cent and clothing and footwear of 0.1 per cent. All other sections remained unchanged," the release said.

The post CSO: Inflation rate at 6.2% for August appeared first on Trinidad and Tobago Newsday.