Consumer Price Index: Inflation Decreased 0.7%
Consumers paid 0.8% more in September 2019 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 declined 0.7 percentage points from August 2019.
This is according to the latest Consumer Price Index, which said, “Between August 2019 and September 2019, the average cost of goods and services in the CPI decreased 0.4%. The all-items index was 106.1 in September. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $106.10.
“The Health & Personal Care sector was the largest contributor to the year-over-year change, increasing 3.8%. The average cost of health insurance premiums was the main contributor to the annual increase. In addition, the Food and Rent sectors contributed to the rise in the annual rate of inflation as price shifts in these sectors were 2.9% and 1.7%, respectively.”
The full September 2019 Consumer Price Index follows below [PDF here]:
Not sure where they are shopping? I guess none of the items in that basket contained sugar?
Recession = retailers cutting prices to stay relevant.
“Consumers paid 0.8% more in September 2019 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]”
No comment from Minister Furbert on how good this news is for Bermuda?
Housing prices should be in equation and if so, we are and have been in hyper inflation for many year. This Wall Street fake news to to prolong low interests rate which has been disaster for today’s many ills including homelessness and high home prices.
The PLP Government would love to include house prices in the calculation. Unfortunately, the calculation would then be meaningless from an economic and statistical perspective.
House prices in Bermuda have been stagnant or falling for years. People in Bermuda have borrowed to buy a house and now it is worth less than the mortgage because of the fall in value of property in Bermuda.
In all the time since 1945, property values in Bermuda never fell that I am aware of until 2008.