Government stonewalls questions on when latest inflation figures will be released
The Government is keeping tight-lipped about why it is keeping the latest inflation figures under wraps.
Typically, a Consumer Price Index report is released monthly, normally in the middle of each month. The last three CPI reports were released by the Government on July 15, August 10, and September 12.
But no report was issued in October – although The Royal Gazette understands that the Department of Statistics has prepared the latest index but that it can only be made public once it has been authorised by the Ministry of Economy and Labour.
The Royal Gazette first asked the Government why this month’s report was delayed a week ago. Jason Hayward, the Minister of the Economy and Labour, did not respond to our question by press time.
After remaining flat for the first quarter of the year, inflation has been climbing in recent months – from 2.5 per cent in March to 4.7 per cent in June.
The opposition One Bermuda Alliance has repeatedly argued that the figures were not accurate and did not reflect the true rate of inflation.
That view was backed by Craig Simmons, an economics lecturer, who said that the methodology by which inflation is calculated was outdated.
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