Prices soar over last four years
years ago.
New figures released yesterday revealed the alarming rate of inflation which measured 2.4 percent just in the twelve months leading up to April.
And even in the 30 days that made up the month of April, the figures showed the cost of health and personal care in Bermuda jumped almost five percent.
April also saw the cost of having a telephone in Bermuda increase as the monthly access line charge rose from $16 to $21, a 31.2 percent hike. The figures revealed that since 1995 in Bermuda the health sector has increased its prices 23.4 percent while the cost of food went up 11.8 percent, and materials for education, recreation and reading jumped 13.9 percent.
The rising prices might be enough to drive some people to seek solace in the bottle, or perhaps to unwind with a cigarette.
And luckily there was good news in the latest figures for these people -- with prices in that sector dropping dramatically by 4.8 percent during April and by 7 percent in the year.
Overall the annual change in the 12 months to April was the highest recorded since January 1997 when it rose by the same rate.
To find the index, the Statistics Department of the Ministry of Finance measured the cost of an "average'' basket of goods and services which a family might need to buy during any one month.
Exactly what that set basket cost in January 1995 was noted and then the rising cost of that same basket of goods has been measured in subsequent months and years so inflation's effect on citizens can be calculated.
The sectors are: food; rent; clothing and footware; tobacco and liquor; fuel and power; household goods, services and supplies; transport and vehicles; education, recreation and reading; and health and personal care.
Bermuda's prices soar The cost of the whole basket of items rose 0.9 percent between March and April this year.
Health insurance premiums were found to have jumped 8.7 percent during the month, leading to the steepest hike out of the sectors, in health and personal care.
For the 12 months leading to April costs of this sector rose 5.9 percent.
But perhaps health insurance premiums will rise even more dramatically in years to come since more people might decide they can afford to smoke after the price of cartons of cigarettes dropped a massive 15.7 percent in April.
In contrast alcohol prices increased slightly.
The seasonal rise in airline ticket prices (11.2 percent) pushed up the transport and vehicle sector costs while gasoline for cars and bikes rose 3.6 percent and 3.4 percent respectively.
Despite widespread complaints of the Island's sky-rocketing rental prices, it was found to have advanced just 0.1 percent during April and 1.9 percent in the 12 months until then. Since 1995 it has risen just over 7 percent.
And while women paid slightly more for visits to the hairdresser in April than the previous month, they paid a little less for clothing and footwear which slipped back 0.1 percent.
CHART On the rise: The graph shows the ups and downs of Bermuda's consumer price index
