ECCB Says Inflation Increased First Half Of 2022

Inflationary pressures intensified in Montserrat in the first half of 2022.

That’s according to the latest report from the Eastern Caribbean Central Bank..ECCB.

The central bank says this was driven by higher costs for energy and food.

The Consumer Price Index rose by 3.2 per cent as at June 2022, doubling the 1.6 per cent increase recorded over the comparable period in the prior year.

Higher prices for food; clothing; housing, utilities, gas and fuels; transport; and communication were the main contributors to the spike in prices.

Food and beverage prices rose to 5.2 per cent in 2022, up from 2.5 per cent in 2020.

On the other hand, energy and housing prices rose to an average of 3.3 per cent up from 2 per cent.