Health care costs biggest factor in inflation rate
Inflation stood at 2.5 percent in March - down from 3.2 percent the previous month, according to figures released by Government this afternoon.The health and personal care sector - which includes the cost of doctor’s visits, health insurance, prescribed and self-prescribed drugs and toiletries - was the biggest contributor to the increase in the Consumer Price Index, going up 7.6 percent.By sector the Consumer Price Index shows:RentThe Rent sector edged up 0.2 percent. The increase was attributed to the 0.3 percent rise in rent-controlled properties. Rental units not subject to rent controlremained unchanged for the month.FoodFood prices were static in March. On average, staple items such as bread, milk and flour did not change in price.Education, Recreation and ReadingThe Education, Recreation and Reading sector grew by 0.1 percent for the month. This was caused by a 6.7 percent rise in boat fuel and a 1.2 percent increase in theprice of sports equipment.Tobacco and LiquorThe Tobacco and Liquor sector increased 0.2 percent for the month in response to a 1.2 percent rise in the average price of beer.Health and Personal CareThe Health and Personal Care sector advanced 0.1 percent in March. On average, the cost of prescription drugs climbed by 1.3 percent.Clothing and FootwearThe Clothing and Footwear sector was unchanged in March.Fuel and PowerThe Fuel & Power sector recorded no price movement for the month.Household Goods, Services and CommunicationsThe Household Goods, Services and Communications sector declined 0.1 percent. The rate of price increase for household supply products, such as cleaningmaterials, food wraps, trash bags and detergents, fell by 0.2 percent.Transport and VehiclesThe Transport and Vehicles sector dropped 1.3 percent in March. The main contributors to the decline were reduced airfares and lower overseas hotel accommodation rates which fell 12.9 percent and 3.1 percent, respectively. In contrast, gasoline prices jumped 6.7 percent.