Health and personal care jumps 8.8 percent
Led by increases in the health and personal care sector, consumers paid 1.8 percent more in September 2013 than they did a year ago for the basket of goods and services included in the consumer price index (CPI).
The total cost of the health and personal care basket increased 8.8 percent year-over-year.
The rate of inflation increased 0.5 percentage points from the 1.3 percent recorded in August 2013, according to the just released report from the Department of Statistics.
they reported: ‘The food, and transport and vehicles, sectors also had a significant impact on the annual rate of inflation, as price shifts in these sectors were 3.0 percent and 1.5 percent, respectively.
“The transport and vehicle sector increased 2.2 percent in September, following a 0.5 percent decrease in August.
“The increase was attributed to a 14.0 percent increase in the average cost of overseas hotel accommodations.”
Education, recreation and reading sector, on the other hand, increased 1.6 percent in September. The average cost of local tuition increased 4.8 percent while overseas college tuition costs rose 2.8 percent.
While premium fuel prices fell by 2.7 percent, the fuel and power sector rose 0.8 percent in September following a 0.9 increase in August. The fuel adjustment rate increased 2.7 percent.
The rent sector was unchanged in September, following a 0.1 percent increase in August. Average rental prices for rent-controlled properties increased by 0.1 percent.
Food prices in grocery stores rose 0.2 percent in September compared to a 0.8 percent rise in August.
Leading price increases were grapes — 8.2 percent, carrots — 3.9 percent, and beef tenderloin — 3.6 percent.
The Department of Statistics reported: “The clothing and footwear sector and the health and personal care sector was unchanged in September.
“The tobacco and liquor sector declined 0.1 percent in September following the 0.1 percent increase in August. The average price of wines and spirits decreased by 0.6 percent and 0.2 percent, respectively.
“The household goods, services and communications sector fell 0.1 percent in September after increasing 0.4 percent in August. The average cost of home contents insurance fell by 10.2 percent.”
They also reported that between August and September 2013, the all-items index increased to 122.7 from the 122.1 index points measured in August.
The report explained: “This means that the basket of goods and services that cost $100.00 in April 2006 now cost $122.70.”