Bermuda’s inflation rate fell to 1.1 per cent in October according to the latest Consumer Price Index figures released today by the Ministry of Economy and Labour.

Consumers paid 1.1 per cent more in October than they did a year previous for the basket of goods and services included in the CPI.

This level of inflation decreased 0.7 percentage points from the September 2024 annual inflation rate.

Prices increased year-over-year in seven categories and fell in two.

From October 2023 until October 2024:

• The rent division increased 2 per cent

• The health & personal care division increased 3.3 per cent

• The food division increased 2.8 per cent

• The education, recreation, entertainment & reading division increased 1.5 per cent

• The household goods, services & supplies division rose 1.5 per cent

• The clothing and footwear division rose 4.1 per cent

• The tobacco and liquor division rose 0.5 per cent

The transport and foreign travel division fell by 5.2 per cent and the fuel and power division decreased by 2.6 per cent.

Between September 2024 and October 2024, the average cost of goods and services increased 0.1 per cent.

Between September and October:

• The health & personal care division increased 0.2 per cent

• The transport & foreign travel division rose 0.3 per cent

• The rent, tobacco and liquor, and household goods, services and supplies divisions each increased 0.1 per cent

• Clothing and footwear decreased by 0.4 per cent

• Fuel and power fell by 0.1 per cent

The food and education, recreation, entertainment and reading divisions were unchanged.

• For the full report, see Related Media

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October 2024 CPI Report.pdf