Over the past six months, underlying inflation ran at an annualised pace of under 3 per cent. We think it will be about 2½ per cent in 2010. It is normal, given the lags in these processes, for inflation to keep declining for a while after the economy begins to firm.
These trends make it even more imperative for Trinidad and Tobago to build and strengthen South-South relationships during the current global crisis to help us withstand future economic pressures in our traditional markets. In this regard, I remain convinced that international trade is a key instrument to building more robust and enduring relationships across countries.