Log In

Reset Password
BERMUDA | RSS PODCAST

Inflation rate climbs to 2.9%

First Prev 1 2 Next Last
Doctors' visits get pricier: Costs in the health and personal care rose 7.1 percent year over year

The inflation rate hit 2.9 percent in October its highest point for eight months and up from 2.6 percent in September.The health and personal care sector, in which costs increased by 7.1 percent was the biggest driver of the increased cost of living, according to figures released by the Department of Statistics yesterday.Food prices were 2.7 percent higher than they were in October 2010, while fuel and power costs rose by 13.3 percent.Health and personal care costs edged 0.1 percent higher between September and October, as dental care costs increased by 4.1 percent, while eye care costs fell by 5.2 percent.The transport and vehicles sector saw the biggest monthly rise in the areas monitored by the Consumer Price Index, with a 1.5 percent rise between September and October.Fuel and power costs rose 0.6 percent for the month, driven by a 1.4 percent increase in the fuel adjustment clause on electricity bills, meaning residential electricity cost 0.7 percent more.The 0.4 percent monthly increase in food prices was driven by increases in the price of spare ribs (8.6 percent), beef tenderloin (7.8 percent) and carrots (4.5 percent).Clothing and footwear prices saw a marked increase, rising 8.6 percent from a year earlier. The monthly rise in this sector was also a steep 4.6 percent, according to the CPI data. The average price of children’s clothing rose 4.8 percent during the month, while men’s clothing rose 1.6 percent between September and October. Jewellery costs rocketed 17.1 percent during the month.The basket of goods and services which cost $100 in April 2006 now costs $118.90.

Inflation: Food prices were 2.7 percent higher than last year in October