Georgetown Consumer Price Index – October/November 2024

At the end of November 2024, the Georgetown Consumer Price Index (CPI) was recorded at 143.07, a decrease from 143.37 at the end of October 2024, indicating a monthly deflation rate of 0.2 %. The primary contributor to the decrease was the Food category, which declined by 0.4 %.

The decline in prices within the Food category was primarily due to lower costs for Vegetables and Vegetable Products (-2.3%), Fruits and Fruit Products (-1.9 %) and Condiments and Spices (-1.3%). Conversely, several Food sub-categories saw price increases, including Alcoholic Beverages & Intoxicants (1.1%), Pulses & Pulse Products (0.5%), Sugar, Honey & Related Products (0.3%), Cereals & Cereal Products (0.2%), Non-Alcoholic Beverages (0.2%), Meat, Fish & Eggs (0.1%), Milk & Milk Products (0.1%), Oil & Fats (excluding Butter) (0.1%).

In the Non-Food category, several sub-categories saw increases, including Jewellery and Watches (3.7%), Cleaning Materials (0.1%), Communication (0.1%), and Expenditure in Restaurants and Cafes (0.1%). However, the Purchased Transport Services sub-category experienced a decrease of -0.1%.

Over the past 12 months, the Consumer Price Index (CPI) rose by 3.2%, largely driven by significant price increases in various categories: Food (6.1 %), Education, Recreation, and Cultural Services (3.3 %), Miscellaneous Goods and Services (1.1 %), Medical Care and Health Services (0.6 %), Housing (0.2%) and Transport and Communication (0.2 %). In contrast, the Furniture category recorded a decline of -0.6 % during this period.