Antigua and Barbuda’s annual inflation rate slowed to 3.7% in June, down from 4.1% in May, according to the latest Consumer Price Index (CPI) report. The lower annual rate suggests that price increases eased compared with the same period last year. However, prices still rose 0.6% between May and June, showing that the cost of many goods and services continued to increase.

Energy remained the biggest contributor to inflation. Energy prices climbed 20.6% over the 12 months ending in June. Electricity costs recorded the largest increase, rising 42.9% after the fuel variation rate moved from 56 cents to 80 cents. As a result, the broader category covering housing, water, electricity, gas and other fuels increased 8.5% compared with a year earlier.

Food prices also continued to rise, although at a slower pace than energy. The overall food and non-alcoholic beverages category increased 1.7% over the year. Fish and seafood prices rose 8.5%, vegetables increased 4.4%, and oils and fats climbed 3.2%. At the same time, some food items became cheaper. Fruit prices fell 9.2%, while meat prices declined 4.8%, helping to offset increases in other grocery items.

Several other sectors recorded notable price increases during the year. Recreation and culture rose 30.2%, education increased 13.3%, transport services climbed 10.3%, and restaurants and hotels recorded a 4.5% increase. Meanwhile, the index that excludes food and energy rose 2.5%, down from 3.7% in May. This suggests that underlying inflation pressures eased during the month.

Overall, eight of the 12 main spending categories recorded annual price increases, while four categories saw prices decline. Although inflation has slowed, higher energy costs continue to place pressure on household budgets. The latest figures show that while the pace of inflation is easing, many consumers are still paying more for essential goods and services than they were a year ago.