The cumulative inflation rate for 2003 at the end of October was 5.7%, according to the Bureau of Statistics.
An overall increase in prices in the food group by 1.2% also brought about a 0.6% jump in prices of consumer items last month.
According to the Bureau, the increase resulted from rising prices in the sub-categories cereals and cereal products by 0.4%; meat, fish and eggs by 0.9%; milk and milk products by 2.0%; oils and fats by 2.3%; vegetables and vegetable products by 8.5%; sugar, honey and related products by 1.1%; non-alcoholic beverages by 0.4%; and tobacco and tobacco products by 2.3%.
The bureau stated in a news release that the cumulative inflation rate at the end of October (from December 2002 to October 2003) was measured at 5.7%.
The inflation rate in October was recorded at 0.6% based on the increases in the prices of consumer items during the month as monitored in the Urban (Georgetown) basket of goods and services and measured by the Urban (Georgetown) Consumer Price Index (CPI).
The price index value accordingly moved from 184.3 in September 2003 to 185.5 in October 2003. On an annual basis, comparing October 2002 to October 2003, the Georgetown index rose by 5.9%
However, decreases in the sub-categories pulses and pulse products by 5.3%; condiments and spices by 0.3%; fruits and fruit products by 7.8%; and alcoholic beverages by 0.1% did not reverse the overall upward price trend in the food group, the bureau noted.
Additionally there were also increases in the prices of other goods and services. The retail prices of the footwear and repairs group increased by 0.9% of which sub-category repairs to footwear rose by 20%, transport and communication group by 0.7% of which the sub-categories personal transport equipment rose by 0.3%, operations of personal transport (gasoline, oil and tyres) by 2.8% and purchased transport services by 0.7% respectively.
Moreover, the educational, recreational and cultural services group increased by 0.1% and the miscellaneous group by 0.2% but the furniture group recorded a 0.2% decline.