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BERMUDA | RSS PODCAST

Inflation rate down to three percent

Consumers paid three percent more for goods and services in September than they did during the same period a year ago.

According to the latest Government statistics released yesterday Bermuda's inflation rate stood at three percent in September, down from the 3.4 percent recorded in August.

However some sectors saw price increases in September and in particular electricity prices, which recorded a year-over-year increase of 16.6 percent. The health and personal care and food sectors rose 7.5 percent and 1.3 percent respectively, while home repair and maintenance costs advanced 2.0 percent during the same period.

Month to month gasoline prices declined 9.5 percent for the premium blend and 9.2 percent for the mixed blend. Rent rose 0.3 percent and fuel and power prices increased 0.7 percent over the previous month.

Household goods and services advanced 0.4 percent while education, recreation and reading costs rose 2.6 percent for the month. Private school tuition fees climbed 8.1 percent, while overseas college costs in the US and Canada increased 6.0 percent and 3.2 percent respectively.

Tobacco and liquor prices rose 0.4 percent on average in September.

The clothing & footwear sector edged down 0.1 percent overall as consumers paid less for tailoring and alteration services.

The transport and vehicle and health and personal care sectors remained constant for the month.