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Close Topic OptionsTrinidad & Tobago Inflation At 10% - Page 16 of 25
High food prices might be international, but - Page 16 - Trinidad, Tobago / Caribbean - Posted: 4th Oct, 2008 - 4:19am
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Economy, cost of living, high pricesTrinidad & Tobago Inflation At 10% - Page 16
In August, we hit 13.5% of inflation, things looking bad. I cannot wait to abandon the boat before it sinks completely.
| QUOTE |
| Citizens will continue to pay more for food and services as inflation continues to soar. Headline inflation climbed to 13.5 per cent in August, up from 11.9 per cent a month earlier, the Central Bank's latest data showed yesterday. Food inflation exerted the largest influence on headline inflation, registering a year on year increase of 30.2 per cent in August, up from 25.3 per cent in July. "On a monthly basis, food prices increased by 5.6 per cent-the largest increase since December 2000," the Central Bank said in a statement. The sharp jump in food inflation reflected a 62.2 per cent in bread and cereal prices, as well as increases in meat and vegetable prices. Recent floods and adverse weather conditions have contributed to the surge in vegetable prices, the Bank said, adding that there have been significant increases in the price of tomatoes, cucumber, melongene and bodi. Core inflation, which filters out the impact of food prices, edged up to 6.3 per cent over the 12-month period to August this year, up from 6.2 per cent in July. Consumers paid more for alcoholic beverages, clothing and footwear and healthcare during the period. The Bank had increased net sales of open market bills to $7.4 billion in an effort to offset domestic fiscal injections since the start of the year. It also sold foreign exchange to withdraw $5.05 billion of excess liquidity from the financial system to stem inflationary pressure, and increased the reserve requirement of commercial banks from 11 per cent to 15 per cent... |
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Inflation Tobago and Trinidad
I actually cannot defend that figure of 13.5% for our inflation rate but I am still going to be patriotic and stick with it and bear with this rise in our cost of living. I am not leaving here and I know one day we will bounce back from this 'hole' that we seem to be falling in. Somehow though 2008 does not seem to be a good year, even in other countries.
Trinidad & Tobago Inflation At 10% Caribbean / Tobago & Trinidad
| QUOTE (Lordyoko) |
| ...I am still going to be patriotic and stick with it. |
I do not see ANYTHING patriotic about that. Fight it! If the people at large fight this by choosing NOT to keep spending the way they do then prices will drop! No, they love their bellies... food is the driving force of inflation in this country. The foundation of any system is food, not oil - it FIRST starts with food and Trinis are right there head and head with their stomach in their hands.
Page 16 Inflation Tobago and Trinidad
Yeah yeah one of those times I was talking about in another post with me being misunderstood. When I said that I am going to be patriotic and stick with it, I meant that I will not be leaving Trinidad because the going is getting tough. Yes I agree that the continuing of Trinis spending money on food regardless of the price is very irresponsible, even juvenile. As I said I cannot defend that figure and sad to say it is possible that it will rise even higher but I am not going to leave to start over in some other country. I have worked hard here in this country (as well as many others like myself) and I believe that continuing to work hard will reap rewards sometime 'down the road'. Even if I personally don't benefit from it, I know that my son will and that is enough reward for me. I pray for this everyday. That the sun will rise and shed light on the darkness that is covering our land. I hope you understand what I mean. 
Edited: lordryoko on 1st Oct, 2008 - 5:19am
Inflation Tobago and Trinidad
Just got back from Hi-Lo and I swear the prices of things go up by 5-10% each time I'm there.
Trinidad & Tobago Inflation 10% - Page 16
You sure are right there. I remember buying things to try it out, see which brand taste better and so forth. Now we looking at the cheapest brand on the shelf. When I say we, I mean some of us. If all of us did that I'm sure prices will go down too but some of us like brand name even if it doesn't taste as good as the cheap brand. We really do deserve this inflation rate and as I said earlier, it looks like it will only rise higher and higher. Pretty soon buying a pack of Crix and a block of cheese will cross $20. Darn it too late Edited: lordryoko on 4th Oct, 2008 - 2:22am
Trinidad & Tobago Inflation 10% Trinidad & Tobago / Caribbean - Page 16
High food prices might be international, but I think in Trinidad it's the supermarkets that collude to make prices high.
And people need to be more economically literate in Trinidad also. If supermarkets collude, then don't buy from them. Companies live off of sales, and without sales they die.
TOPIC: Trinidad & Tobago Inflation At 10%