The inflation rate fell to 1.6 per cent in January, down from 1.9 per cent in December.

However, food, tobacco and liquor, and items in the education, recreation, entertainment and reading sector all cost more.

The food sector was up 1.2 per cent, with condensed milk costing 8.5 per cent more, fresh and frozen pork loin was up 5.2 per cent, and rice was 5 per cent more expensive than in December.

The tobacco and liquor sector was up 0.3 per cent, while the education, recreation, entertainment and reading sector edged 0.1 per cent higher.

The fuel and power sector fell by 1.5 per cent, with the fuel adjustment clause dropping by 4.7 per cent. There was also a notable fall in the transport and foreign travel sector, which was 1.9 per cent lower, mostly due to a fall in the average cost of air fares of 11.5 per cent.

Year-on-year figures showed the fuel and power sector increased by 9.1 per cent, with the major driver being the introduction of a Regulatory Authority of Bermuda recovery fee.

The all-items index slipped to 103.8 in January, meaning that a basket of goods and services that cost $100 in April 2015 now costs $103.80.

The Consumer Price Index figures were produced by the Bermuda Government’s Department of Statistics.