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Inflation rate falls to 1.3%

Inflation dropped to 1.3 per cent in August, down 0.3 per cent on the previous month.

The consumer price index also decreased from July to August, nudging lower by 0.5 per cent. The all-items index dropped to 101.7, which means a basket of goods that cost $100 in April 2015, cost $101.70 during August.

Higher prices for fresh steaks, salad dressing and fresh and frozen pork lion were key contributors to a 0.1 per cent rise in prices across the food sector between July and August.

Rents also rose by 0.1 per cent on a month-to-month basis. There was no change to prices in the fuel and power, clothing and footwear, and health and personal care sectors.

The transport and foreign travel sector fell 4.3 per cent in August, as the average cost of air fares decreased 13.7 per cent month-over-month, while overseas accommodation costs fell 5.3 per cent.

In a year-to year analysis, the education, recreation, entertainment and reading sector rose 4.1 per cent.

Also up was health and personal care and the rent sector, which rose 3.6 and 1.4 per cent, respectively, on a year-to-year basis.

The consumer price index details were released by the Department of Statistics.

See Related Media for full CPI release

At the shop: food prices in Bermuda rose by 0.1 per cent in August, compared with the previous month

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Published October 25, 2016 at 12:56 pm (Updated October 25, 2016 at 1:03 pm)

Inflation rate falls to 1.3%

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