Inflation rate edges up 2.2%
percentage point over the previous month.
Bermuda's year-over-year inflation rate has remained at between 1.8 percent and 2.1 percent until the November 2.2 percent. The November rate is 0.3 percentage points above the rate registered in November 1997.
The Statistics Department reported that there were few notable price changes within the main sectors of the Consumer Price Index, the means of measuring the Island's inflation rate.
In November prices rose in the food, rent and transport and vehicle sector, and fell in the fuel and power sector.
The fuel and power sector declined by 0.4 percentage points from October. The drop was due to lower electricity costs. The household goods, services and supplies' sector fell 0.1 percentage points in part due to a decline in the cost of major appliances.
In the food sector prices rose an average of 0.2 percentage points. Prices for oranges rose 6.3 percent, tomatoes 2.8 percent, onions 1.8 percent, local carrots 1.7 percent, beef tenderloin 1.7 percent, eggs 1.1 percent and bread 1.1 percent.
The rent, and the transport and vehicle sectors rose 0.1 percent during the month of November.
"The heavily weighted rent sector advanced primarily due to an increase in the average rent of controlled properties,'' the Department reported. "The upward movement in the transport and vehicle sector was mainly attributed to an 1.8 percent rise in the cost of air fares coupled with a fractional increase ( 0.1 percent) in the capital cost of cars.
