Business

Inflation rate edges up to 0.9%

  • Retail trend: the price of food in Bermuda was 2.9 per cent higher in December compared to the same month in 2017 (File photograph)

Consumers paid more for goods and services in December, than they did in the same month in 2017.

The Consumer Price Index rose 0.9 per cent, year-on-year.

The inflation rate edged up to 0.9 per cent in December, an increase of 0.1 of a percentage point compared with November.

Year-on-year there was a 3 per cent increase in the health and personal care sector, a 2.9 per cent increase in the food sector, and a 1.4 per cent increase in the education, recreation, entertainment and reading sector.

In December, there was a 0.3 per cent increase in the tobacco and liquor sector, the rent sector was up 0.1 per cent, and the education, recreation, entertainment and reading sector was up 0.3 per cent,

The food sector had a 0.1 per cent decrease, and there was a decline of 0.3 per cent in the transport and foreign travel sector, and a 1.8 per cent drop in the fuel and power sector.

All other sectors were unchanged for the month. The data was compiled by the Bermuda Government Department of Statistics.

Click on Related Media to read the CPI bulletin