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Inflation march continues

The Government said on Friday that inflation, as measured by the Consumer Price Index, rose 2.5 per cent in the 12 months to October.

A Ministry of the Cabinet Office statement said that during October 2021 consumers paid 2.5 per cent more than they did in October 2020 for a basket of goods and services.

The statement added: “At a glance, on average, the Food sector rose 0.2 per cent for October. The main items contributing to the increase were imported lettuce (+6.0 per cent), green peppers (+4.3 per cent) and eggs (+3.1 per cent).

The Transport and Foreign Travel sector continued to be the largest contributor to the 12-month increase in the CPI (+13.9 per cent).

On average, annual increases were reported in the cost of overseas hotel accommodations (+35.4 per cent) and airfares (+28.6 per cent). Premium fuel and mixed fuel prices rose 16.5 per cent and 15.3 per cent, respectively.

The Education, Recreation, Entertainment and Reading (+2.1 per cent) and Health and Personal Care (+1.7 per cent) sectors also had an impact on the annual inflation rate.

Between September 2021 and October 2021, the average cost of goods and services increased 0.6 per cent.

Additional areas of note in the October 2021 CPI can be found in the attachment or online report at https://www.gov.bm/bermuda-business-statistics

Each month the Government measures the annual rate of inflation and the monthly rate of inflation.

Annual changes reflect changes from the same month last year. Monthly changes reflect changes from month to month.

During October 2021 consumers paid 2.5 per cent more than they did in October 2020 for a basket of goods and services (Photograph by Mario Proenca/Bloomberg)

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Published February 14, 2022 at 7:59 am (Updated February 14, 2022 at 7:59 am)

Inflation march continues

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