Inflation edges higher – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Inflation edges higher

Consumers paid more for goods and services in March than they did in the same month in 2018.

The Consumer Price Index rose 1.2 per cent, year-on-year.

The level of inflation increased by 0.1 of a percentage point from the 1.1 per cent measured in February.

The rent sector was the largest contributor to the year-over-year change, increasing by 2 per cent. The major contributor to the annual increase was a 2.7 per cent rise in the average cost of rental properties not subject to rent control.

There was a 2.9 per cent increase in both the health and personal care, and food, sectors. The transport and foreign travel sector declined by 3.5 per cent.

In the month-to-month changes, the transport and foreign travel sector rose by 2.1 per cent due in part to a 6.1 per cent increase in the average cost of overseas airfare and a 2.7 per cent increase in the cost of premium fuel.

The rent sector had a 0.9 per cent increase, with the average cost of rental properties not subject to rent control increasing by 1.8 per cent. The tobacco and liquor sector climbed by 0.4 per cent, with the average cost of wine increasing by 1.9 per cent, while both the health and personal care sector and food sector dipped by 0.1 per cent.

A decline of 7.4 per cent in the average cost of boat repairs and maintenance, and a 1.8 per cent decline in the average cost of pet food, fuelled a 0.4 per cent decrease in the education, recreation, entertainment and reading sector.

There was no price movement in March in the clothing and footwear, fuel and power, and household goods, services and supplies sectors.

Data was compiled by the Bermuda Government Department of Statistics.

The Consumer Price Index, a measure of the cost of living, climbed in March (Graph by the Department of Statistics)

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Published July 02, 2019 at 9:00 am (Updated July 02, 2019 at 9:37 am)

Inflation edges higher

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