Comments on: Hamilton Tops Cost of Living Index Rate List

By: St. D

St. D — Sat, 04 Jul 2015 13:21:45 +0000

Guess what – it is a meaningless statistic. How many people live in Hamilton as compared to those other cities? In fact, by global standards, you can hardly call Hamilton a city.

By: Zevon

Zevon — Fri, 03 Jul 2015 21:29:21 +0000

The purchasing power index indicates the average person in Hamilton can afford to buy 30% more typical goods and services in Hamilton than the average person in New York can afford to buy in New York.
That is despite the consumer price plus rent index being 30% higher than New York.
So it indicates that an average person here is significantly better off than an average person in New York.

By: Zevon

Zevon — Fri, 03 Jul 2015 21:21:29 +0000

You have to look at all the numbers and the definitions of what they mean.
The Consumer Price Plus Rent Index indicates the total cost of living in Hamilton would be about 30% higher than New York.
However the Local Puchasing Power Index also indicates the average person living in Hamilton can buy 30% more ‘typical goods’ in Hamilton than the average person living in New York is able to buy.
So the doom and gloom interpretations are wrong.

By: Future

Future — Fri, 03 Jul 2015 21:12:13 +0000

It should be noted this list is not compiled from objective sources. For example, it states the average 3 bedroom apartment in Bermuda rents for $5,333 per month based on random user input, not a scientific poll. These numbers are way off and thus skew the data. Not to say costs aren’t high but they are not properly reflected here. Grossly exaggerated in cases.

By the way spend on electricity is only 4% of GDP according to Dept of Stats. Far more is spent housing/mortgages, food, healthcare.

By: hmmm2

hmmm2 — Fri, 03 Jul 2015 21:03:32 +0000

And your point is what in relation to the figures presented in this article? If we continue down the road of high costs, more people will continue to leave the island and less visitors will come to Bermuda. As a result, there will be less money in circulation and the government will lose even more revenue. Eventually the island’s debt burden will be too high and the island’s economy will collapse.

The island is just too expensive.

By: Legalgal

Legalgal — Fri, 03 Jul 2015 20:42:20 +0000

Unsustainable for all but the super wealthy and those living off them.

By: bluebird

bluebird — Fri, 03 Jul 2015 20:04:11 +0000

We have lots of regulations and very HIGH TAXES to keep inefficient Goverments going that spend more than we have coming in.
Still borrowing $220Million per year to spend and that’s other peoples money not ours.
Still paying $170Million dollars per year in interest on the HUGE DEBT.
We are still only a small place with only 60,000 population.
There will be a financial attitude adjustment in the future as our economy is still going down. (803) less jobs last year but not in the civil service.

By: Islander

Islander — Fri, 03 Jul 2015 17:32:35 +0000

It’s actually the fuel costs that is the main driver.

By: Terry

Terry — Fri, 03 Jul 2015 16:39:31 +0000

See^ Bermyman.

By: Bermyman

Bermyman — Fri, 03 Jul 2015 15:49:56 +0000

Electricity and shipping costs are the main drivers

By: Onion juice

Onion juice — Fri, 03 Jul 2015 15:15:39 +0000

Is Johnny Barns friendly enough.

By: Terry

Terry — Fri, 03 Jul 2015 14:46:25 +0000

Import duties.
But that’s part of how it works.

Sad really.

By: Zevon

Zevon — Fri, 03 Jul 2015 14:44:42 +0000

And another PLP myth is born.

By: Double D

Double D — Fri, 03 Jul 2015 14:19:36 +0000

Smurfs work in BDA?

By: PBanks

PBanks — Fri, 03 Jul 2015 14:16:50 +0000

Yikes. I know I feel the pain of grocery bills and other utilities, this chart just proves it. Goodness.

By: Onion juice

Onion juice — Fri, 03 Jul 2015 14:16:24 +0000

And the average Blue Color worker has not had a raise for 10 years.
WTF

By: hmmm2

hmmm2 — Fri, 03 Jul 2015 14:07:33 +0000

Our consumer price index when compared to our purchasing power index doesn’t look good at all. Just by looking at the other cities we can see the huge difference. Our grocery index is extremely high as well.

I don’t know if I should laugh or cry. This island doesn’t make much sense at all.

By: Toodle-oo

Toodle-oo — Fri, 03 Jul 2015 13:55:58 +0000

I’m sure that if there was a correlating chart for ‘over inflated expectations and greed ‘ we’d top that chart too .

By: Regina

Regina — Fri, 03 Jul 2015 13:36:23 +0000

And why aren’t tourists coming here in droves? Maybe we should be a little more friendly to IB and the foreign talent they bring with them…which creates jobs for us so we can buy those $8 loaves of bread.

By: San George

San George — Fri, 03 Jul 2015 13:28:16 +0000

Good – keeps de small man out!

By: Banana

Banana — Fri, 03 Jul 2015 13:19:37 +0000

Wow, look at this compared to our purchasing power index.