Inflation rate rockets to 3.3 percent
Consumer insurance costs across the board had an impact on Bermudian pockets in April.
Bermudians saw their health insurance premiums jump ten percent last month according to government statistics while car and cycle insurance also saw sharp rises.
The annual rate of inflation shot up to 3.3 percent in April, according to the Bermuda Consumer Price Index released yesterday.
Average prices in the Health and Personal care sector rose well above inflation due to the insurance premium hikes.
Health insurance costs rose 11.0 per cent on average in response to higher hospital and individual policy rates. Also in the health and personal care sector, prices for men's haircuts also rose a significant 4.7 percent.
On average, the transport & vehicles sector posted a 1.0 percent rise, brought down by decreasing car fuel prices (-4.3 percent).
The Education, recreation and reading sector saw prices rise by 2.2 per cent. This was due to a seasonal increase in recreational services and increased pet care costs.
Food and rent costs saw marginal increases, while clothing and footwear remained unchanged.
The Household goods, services and supplies sector edged up 0.1 percent.