Consumer Price Index: Inflation Decreased 0.3%

March 27, 2018

Consumers paid 1.6% more in January 2018 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI] and the level of inflation decreased 0.3 percentage points from the 1.9% measured in December 2017.

This is according to the latest Consumer Price Index, which said, “Between December 2017 and January 2018, the average cost of goods and services in the CPI declined 0.2%. The all-items index slipped to 103.8 in January. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $103.80.

“The Fuel & Power sector was the largest contributor to the year-over-year rise, advancing 9.1%. The major driver in this sector was the introduction of the Regulatory Authority recovery fee. In addition, the Transport & Foreign Travel sector and the Tobacco & Liquor sector rose 2.4% and 9.3%, respectively.”

The full January 2018 Consumer Price Index follows below [PDF here]:

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