T&T inflation up to 14.1 per cent

The Central Bank of Trinidad and Tobago on Friday cut its overnight rate by 50 basis points as it announced that the country's inflation rate has climbed to 14.1 per cent.

The most significant contributor to the inflation was the cost of fresh produce. The heavy rains and floods have destroyed crops pushing up the cost of vehetables by 63 per cent.

Here are some examples of rise in food prices:

• Fruits - 38.0 per cent
• Vegetables 63.1 per cent
• Meat 4.1 per cent
• Milk, cheese and eggs 2.3 per cent
• Sugar and confectionery products 8.3 per cent