The stark rise in health insurance premiums continued to drive inflation, as measured by the Consumer Price Index (CPI).

Government figures show that consumers paid 2.1 percent more in May for the standardised basket of goods that make up the CPI, than a year earlier.

The Health & Personal Care sector remained the largest contributor to the twelve-month rate of price increase. The annual increase to May 2014 measured 5.9 percent, which was led by increased costs for health insurance premiums.

The Food and Transport & Vehicle sectors also impacted strongly on the annual rate of inflation. Price shifts in these two sectors stood at 2.8 percent, respectively.

Between April 2014 and May 2014, the average cost of goods and services in the CPI increased 0.3 percent.

The all-items index increased to 124.2 index points in May. This means that the basket of goods and services that cost $100.00 in April 2006 now cost $124.20.