Inflation rate up
Consumers paid 2.2 percent more for goods and services this October than they did a year ago.
This was according to Bermuda Consumer Price Index figures released yesterday which showed that the rate of inflation in October had grown 0.2 percent over the previous month, and was 2.2 percent higher than a year ago.
In October the index - which measures the price movements of a set quantity of goods and services on a monthly basis - saw the greatest movement in the Transport and Vehicle sector which posted a two percent increase for the month.
The cost of car fuel pushed transport sector costs higher with it costing 16.2 percent more to fill up a tank.
An executive at one of the Island's fuel companies said the increase was a reflection of the current volatility in the global market. As evidence of this, he pointed out that in September fuel costs had seen a marked drop.
In September, CPI figures showed consumers were paying out 11.3 percent less at the gas pump.
Across other sectors, price movement was relatively flat. Food costs were a marginal 0.1 percent higher - although certain products saw substantial jumps in price. Cucumbers were 12.4 percent more expensive, black pepper cost 6.4 percent more, three pounds of apples moved up 2.1 percent. Consumers also paid 1.3 percent more at the checkout stand for Raisin Bran, grapes and pears.
Rents costs advanced 0.8 percent during the month with the rental value of controlled properties increasing 2.6 percent.
It was also became slightly more expensive to drink and smoke with the sector seeing a 0.5 percent increase and month-on-month the cost of beer increased by 1.6 percent.
The household goods, services and supplies sector edged up 0.4 percent. Within the sub-components of this sector, the average cost of furniture increased by one percent. And gardening and laundry services were also more costly with increases of five and 4.2 percent respectively.
Power costs also rose marginally with an overall advance of 0.4 percent in the fuel and power sector - this was attributed to a 0.4 percent increase in the cost of electricity after a 2.8 percent rise in the fuel adjustment clause.
The price of a cylinder of propane gas however was unchanged.
It also became slightly more expensive to look after one's health: the cost of dental, eye care and other personal care services went up by 1.6, 0.8 and 4.8 percent. And leisure activities also cost slightly more in October. That sector moved up 0.4 percent, with the increase being attributed to a 2.4 percent increase in the cost of boat fuel, which is part of the recreation sub-sector.
