In August there was a 0.1% decrease in the consumer items monitored in the Urban (Georgetown) Consumer Price Index (CPI) basket of goods and services, according to the Bureau of Statistics.

The price index value accordingly moved from 183.2% in July 2003 to 183.0% in August 2003. On an annual basis, that is when comparing August 2002 to August 2003, the Georgetown index rose by 5.6%, a release from the bureau said.

And at the end of the third quarter of 2003, the year-to-date inflation rate from December 2002 to August 2003 was measured at 4.2%.

According to the bureau, the decrease in prices of 0.1% in August was primarily influenced by an overall decrease in prices in the food group of 0.2%. This decrease resulted from downward price movements in the sub-categories meat, fish and eggs by 0.4%, condiments and spices by 1.1%, vegetables and vegetable products by 2.3%, and alcoholic beverages by 1.3% and non-alcoholic beverages by 0.5%.

However, increases in the sub-categories cereals and cereals products by 0.3%, pulses and pulse products by 0.9%, oils and fats by 1.8%, fruits and fruit products by 0.6%, and tobacco and tobacco products by 2.4% did not reverse the overall downward price trend in the food group, the release noted.

Regarding other goods and services, the retail prices of the transport and communication group decreased by 0.1%, of which sub-categories personal transport equipment and operations of personal transport (gasoline, oil, parts and accessories) declined by 0.1% and 0.3% respectively and miscellaneous goods and services by 0.2%