Inflation has risen for a second consecutive month and now stands at 3.5 percent, its highest level since last July.

Increased airfares and higher gas pump prices were the main drivers of the inflation rise, however there was an increase in prices across all sectors except for fuel and power where a drop in electricity and propane gas was recorded.

The new consumer price index figures mean that a basket of goods that cost $100 last April would now cost $102.70.

The rate of inflation accelerated from 3.1 percent in February to 3.5 percent as of the end of March, the latest figures available from the Department of Statistics.

Bermuda now has a higher inflation rate than both the US (2.8 percent) and Canada (2.3 percent) but remains lower than the UK (4.8 percent).

The transport and vehicles sector jumped 3.6 percent, mostly as a result of higher airfares and gasoline going up by 3.5 percent.

Grocery prices moved up 0.3 percent, with larger rises for fresh beef (6.2 percent), sausages (3.1 percent) and milk (2.5 percent).

The cost of buying a magazine to read went up on average by 2.8 percent and boat fuel also jumped 3.6 percent. Prescription medicines are now three percent dearer than they were in February. Rent prices advanced by 0.1 percent, with the majority of the increase accounted for by a 0.4 percent rise in those properties under rent control.

A year-to-year comparison shows that rent was the biggest contributor to overall inflation as prices for controlled properties advanced four percent year-over-year, while those properties not under rent control saw a 2.6 percent increase.

And a yearly analysis also shows the cost of transport and vehicles, and food, moved up 5.8 percent and three percent respectively.

The first quarter inflation figure is 3.2 percent compared with 2.7 percent year-on-year.