February 2021 Consumer Price Index Report

May 10, 2021 | 0 Comments

Consumers paid 0.2% more in February 2021 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI] and this level of inflation rose from the January 2021 annual rate of negative 0.3%.

Minister for the Cabinet Office Wayne Furbert said, “The health and personal care sector was the largest contributor to the twelve-month increase in the CPI. On average, the cost of health and personal care items increased 2.1 % year-over-year. This rise was attributed to higher health insurance premiums [+2.8 %].4

“The food and education, recreation, entertainment and reading sectors also impacted strongly on the annual rate of inflation, as price shifts in these sectors measured 2.0 % and 1.7 %, respectively. Between January 2021 and February 2021 the average cost of goods and services increased 0.3 percentage points.”

“Additional areas of note between January 2021 and February 2021 are as follows:

  • “On average, food prices advanced 0.3% in February. Among the main items contributing to the increase were potato chips [+7.2%], cantaloupes [+6.7%], and green peppers [+3.5%].
  • “The transport and foreign travel sector climbed 2.2 % due to increased airfares [+7.4%] and overseas hotels [+6.8%].
  • “The education, recreation, entertainment and reading sector increased 0.2%. The average cost of pleasure boats rose 1.8%.
  • “The tobacco and liquor sector dropped 0.8%. On average, consumers paid 2.5% less for wines.

The full February 2021 Consumer Price Index follows below [PDF here]:

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