Healthcare costs drive inflation higher – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

Healthcare costs drive inflation higher

Shoppers paid 2.1 per cent more in June for goods and services than a year before.

And the Island's inflation rate went up 0.9 percentage points from the 1.2 per cent measured in May.

Health and personal care notched up the largest increase year on year — up 8.5 per cent, driven by increased costs for health insurance, medical care and medicines.

The cost of food and transport and foreign travel also increased.

Transport and foreign travel rose 5.9 per cent in June, which followed a one per cent decrease the previous month.

And the average price of airfares and premium fuel also went up — by 4.2 per cent and 6.7 per cent respectively.

But the average cost of motorcycles dropped, down 4.5 per cent.

Food costs rose 0.1 per cent between May and June, following a 0.4 increase in May. The jump was attributed to a hike in the price of eggs, margarine and canned evaporated milk.

The cost of rent was static for June, despite average prices for rent-controlled properties going up by 0.1 per cent.

The price of tobacco and liquor remained steady month-on-month from May to June.

A 0.2 per cent increase in the average cost of beer was offset by a 1.3 per decrease in the price of spirits.

The education, recreation, entertainment and reading sector went up by 0.5 per cent in June, while boat repair and maintenance costs rose by 2.6 per cent due to increased fuel prices.

The figures mean that a basket of goods and services that cost $100 in April now costs $100.70.

Healthcare cost escalation: Rising health and personal care costs drove inflation higher in June

You must be Registered or to post comment or to vote.

Published August 07, 2015 at 2:50 pm (Updated August 07, 2015 at 2:50 pm)

Healthcare costs drive inflation higher

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon