The Consumer Price Index (CPI) fell anew in the second quarter, this time by 3.6 percent. In the first quarter, the CPI slid by 0.4 percent.
“Similar to the first quarter, the second quarter decline is traced primarily to the reduction in fuel prices this year compared to a year ago” stated the Minister for Finance and Economic Development, Honourable Marco Archer.
The price index for electricity, gas and other fuels fell sharply by 25.7 percent during the quarter over the same quarter in 2014. The index for water supply and miscellaneous services also moved downward by 10.3 percent.
The decline in fuel prices also drove down the transport price index by 7.6 percent.