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Prices rise 2.7 percent in December

Price fall: Food prices dipped 1.6 percent in December

Consumers paid 2.7 percent more for goods and services in December than they did a year before.The annual inflation rate climbed 0.4 of a percentage point from 2.3 percent in November.The Consumer Price Index (CPI), released yesterday by the Department of Statistics, showed the cost of health and personal care up 7.7 percent from 12 months before as the biggest driver of inflation.Personal care services such as hairstyling, manicures, facials and massages rose 18.1 per cent during the last 12 months, according to the CPI commentary. Food and rent were also strong drivers in annual inflation, up 2.4 percent and 1.6 percent respectively from a year ago. However, food prices fell by 1.6 percent between November and December, with notable decreases in the cost of fresh roast beef (-5.8 percent), green peppers (-5.2 percent) and bacon (3.5 percent).Otherwise, prices changed little in December across the sectors, apart from the transport and vehicles sector, which climbed 1.5 percent during the month, reflecting a 15.5 percent rise in the cost of air travel and a 0.5 percent increase in gasoline prices.The cost of wine rose 1.2 percent during the month, while cigarettes rose 1.1 percent, driving the tobacco and liquor sector to a 0.5 percent rise.Useful websites:www.statistics.gov.bm