For the third consecutive month, the cost of the Urban Basic Food Basket (CBA) dropped by 1.4% in October, settling at $245.7, according to the National Office of Statistics and Census (Onec).
The institution reported a $3.51 decrease compared to September’s $249.25, marking the lowest price since January 2023—a span of 21 months.
Additionally, the CBA showed an $11.8 reduction compared to its October 2023 price of $257.6, moving further away from the peak of $264.9 recorded in July. The July surge had been fueled by crop damage during a period of escalating food prices.
In rural areas, the food basket also saw a decline, dropping $0.87 from $176.2 in September to $175.3 in October. This is the lowest rural price recorded since September 2022, according to Onec.