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In Business; Inflation slows to 5.6 per cent.

Business NewsThe Retail Price Index for May released by the Central Statistical Office (CSO) shows headline Inflation at 5.6 per cent, a decrease from 12.6 per cent for the comparative period last year…

Food Price Inflation was 9.6 per cent.

This was in part due to increases in the prices of ochroes, chive, thyme, limes, dasheen, celery, melongene, christophene, Irish potatoes, whole chickens and mangoes.vegi1

The increase in these same food items also affected the index for Food and Non Alcoholic Beverages which showed a 1.0 per cent increase in prices for the period April to May.

However, the full impact of these increases was offset by the general decrease in prices of hot peppers, celery, oranges, paw paw, ochroes, avocado, carite, cavali, mangoes and bodi.vegi4vegi2

Core Inflation which filters out the impact of food prices was 2.4 per cent, an increase of 0.2 per cent over the comparative period for last year.vegi6

This increase was due it increases in Miscellaneous Goods and Services (6.5 per cent), Health (5.3 per cent), Education (5.2 per cent), Hotels, Alcoholic Beverages and Tobacco (4.8 per cent), Hotels, Cafes and Restaurants (4.3 per cent), Recreation and Culture (3.0 per cent) and Transport (2.3 per cent).