St Kitts and Nevis achieves below 1% inflation rate, among the lowest in Caribbean

St Kitts and Nevis: In a significant development, St Kitts and Nevis has recorded one of the lowest inflation rates in the Caribbean i.e. below 1 percent, announced Financial Secretary, Carton Pogson, during the recent National Budget Consultation held at the St. Kitts Marriott Resort.

While sharing the facts, he said that this remarkable achievement underscores the prudent fiscal management of the government and the success of its policies which are designed to protect citizens’ purchasing power while maintaining sustainable economic growth.

According to him, the low inflation rate is especially significant during this period when global economies continue to face price pressures from supply chain disruptions, energy volatility, and post-pandemic adjustments.

In his presentation, Pogson further highlighted that this outcome showcases sound monetary discipline, effective collaboration with regional financial institutions as well as strategic interventions by the government of St Kitts and Nevis to control the impact of external shocks on the cost of living.

Prime Minister Dr Terrance Drew has repeatedly highlighted that economic stability is the foundation on which the island nation’s Sustainable Island State Agenda is built. Therefore, the low inflation rate is not just a statistical milestone but a tangible reflection of policies which prioritise people centered governance, resilient fiscal frameworks, and responsible stewardship of public resources.

“Our focus is clear: to build an economy that protects our people, empowers our youth, and secures our nation’s future,” Prime Minister Drew affirmed in recent remarks. “Low inflation is not just an economic statistic, but it is a measure of the well-being of our citizens.” 

The budget consultation, which brought together key stakeholders from the public and private sectors, also reaffirmed the Government’s commitment to maintaining a balanced approach while supporting social development and infrastructure expansion along with preserving fiscal discipline.