Inflation falls to 2.5%
Inflation slipped in April from the previous month, but consumers are still paying 2.5 percent more for goods over last year.April’s inflation rate is 0.3 percent less than March.According to the Consumer Price Index (CPI) report, the health and personal care sector continued to be the largest contributor to the increase. This sector contains items such as the cost of doctor’s visits, health insurance, prescribed and self-prescribed drugs and toiletries. The annual increase for this sector was 5.9 percent. This rise was attributed to higher health insurance premiums that came into effect in April.“The food and fuel and power sectors also had a strong impact on the annual rate of inflation, as price shifts in these sectors were 4.4 percent and 13.4 percent, respectively,” the report stated.Prices in the transport and vehicles sector rose 1.3 percent in April, as did the health and personal care sector (5.6 percent), clothing and footwear (1.5 percent), rent (0.1 percent) as well as the education, recreation and reading sector (0.2 percent).In contrast, airfares decreased 5.6 percent during the month.Tobacco and liquor prices increased 0.7 percent in April. The average price for a carton of cigarettes increased 1.7 percent.Prices in household goods and services, fuel and power as well as the food sectors remain unchanged in April.