stluciatimes, caribbean, caribbeannews, stlucia, saintlucia, stlucianews, saintlucianews, stluciatimesnews, saintluciatimes, stlucianewsonline, saintlucianewsonline, st lucia news online, stlucia news online, loop news, loopnewsbarbados


High ECCU Consumer Prices Overshadowing Positive Economic Activity


The 104th Meeting of the Monetary Council of the Eastern Caribbean Central Bank (ECCB) has ended, with a report from the Bank’s Governor indicating that high consumer prices overshadow positive economic activity.

A meeting Communiqué said the report focussed on Monetary and Credit Conditions in the Eastern Caribbean Currency Union (ECCU) for January to December 2022.

The report noted that although the recovery is proceeding apace in the ECCU, consumer prices have not yet stabilised.

“Elevated consumer inflation continues to cast a shadow over positive economic activity by reducing people’s purchasing power,” it observed.

In addition, the report said that the ECCU fuel costs drove up headline inflation in 2022.

And it noted that the average gasoline price in the region increased from the end of December 2022.

The Governor’s report also stated that food price shocks remain challenging for the ECCU.

However, monetary and credit conditions in the ECCU remain ‘stable and accommodative’, and the EC Dollar – the only legal tender in the ECCU – also remains stable.

Any third-party or user posts, comments, replies, and third-party entries published on the St. Lucia Times website ( in no way convey the thoughts, sentiments or intents of St. Lucia Times, the author of any said article or post, the website, or the business. St. Lucia Times is not responsible or liable for, and does not endorse, any comments or replies posted by users and third parties, and especially the content therein and whether it is accurate. St. Lucia Times reserves the right to remove, screen, edit, or reinstate content posted by third parties on this website or any other online platform owned by St. Lucia Times (this includes the said user posts, comments, replies, and third-party entries) at our sole discretion for any reason or no reason, and without notice to you, or any user. For example, we may remove a comment or reply if we believe it violates any part of the St. Lucia Criminal Code, particularly section 313 which pertains to the offence of Libel. Except as required by law, we have no obligation to retain or provide you with copies of any content you as a user may post, or any other post or reply made by any third-party on this website or any other online platform owned by St. Lucia Times. All third-parties and users agree that this is a public forum, and we do not guarantee any confidentiality with respect to any content you as a user may post, or any other post or reply made by any third-party on this website. Any posts made and information disclosed by you is at your own risk.


Please enter your comment!
Please enter your name here


Subscribe to our St. Lucia Times Newsletter

Get our headlines emailed to you every day.

Share via
Send this to a friend