The Central Statistical Office (CSO), in a release on the retail price index, has reported a 0.5 per cent decrease in the inflation rate for April 2023.

The inflation rate – measured as the percentage change in the average all items index – was 7.3 per cent for January-April 2023-2022, as compared to 7.8 per cent in the previous period.

For January-April 2022-2021 the inflation rate was 4.3 per cent.

The all items index, calculated from the prices collected for the month of April 2023, was 122.8, representing no change above/below the index (all items) for March 2023.

The index for food and non-alcoholic beverages reflected a 1.1 per cent decrease, from 146.1 in March 2023 to 144.5 in April 2023.

The CSO said the downward movement in prices of pumpkin, melongene, hot peppers, ochroes, tomatoes, grapes, carrots, pimento, table margarine and chives significantly contributed to this decrease.

However, the full impact of these decreases was offset by the general increases in the prices of chilled or frozen beef, fresh beef, chilled or frozen pork, onions, cheddar cheese, eddoes, whole fresh chickens, fresh steak, celery and carbonated soft drinks

“A further review of the data for April 2023 compared with March 2023 reflected an increase in the sub-index for alcoholic beverages and tobacco of 1.2 per cent; furnishings, household equipment and routine maintenance of the house of 0.8 per cent; health of 0.7 per cent; transport of 0.8 per cent; communication of 0.3 per cent; recreation and culture of 1.9 per cent; hotels, cafés and restaurants of 1.7 per cent and miscellaneous goods and services of 0.6 per cent.

"Also, this period showed a decrease in the sub-index for clothing and footwear of 1.6 per cent and housing, water, electricity, gas and other fuels of 0.6 per cent. All other sections remained unchanged,” the CSO said.

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