Inflation Trinidad and Tobago 2024
Average inflation: 0.5%
Current Inflation
Inflation is very low at 0.5%, well below the ECB target.
Peak and Trough
The highest inflation was in May at 0.9%. The lowest inflation was in October at 0.2%.
- Highest month
- May: 0.9%
- Lowest month
- October: 0.2%
- Difference
- 0.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 4.2%. The lowest price increase was in Energy with an average of -1.3%.
- Highest increase
- Food: 4.2%
- Lowest increase
- Energy: -1.3%
Historical Context
Current inflation is 2.2% lower than the 5-year average of 2.7%. This approaches the lowest level since records began (0.5% in 2024).
- 5-year average
- 2.7%
- 10-year average
- 2.5%
- All-time high (2008)
- 12%
- All-time low (2024)
- 0.5%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +4.2 percentage point.
- Change vs. previous year
- -4.2 percentage points
- Largest monthly swing
- January: -8.0 percentage points
ECB Target
Inflation is 1.5% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €100.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 0.3% | -8.0 |
| February | 0.8% | -6.8 |
| March | 0.8% | -6.5 |
| April | 0.5% | -5.5 |
| May | 0.9% | -4.8 |
| June | 0.7% | -5.1 |
| July | 0.3% | -4.4 |
| August | 0.4% | -3.6 |
| September | 0.4% | -3.5 |
| October | 0.2% | -1.1 |
| November | 0.5% | -0.6 |
| December | 0.5% | -0.2 |
| Average | 0.5% |
Data source
Data from WorldBank. Last updated: 06/01/2026.