March 2021 Consumer Price Index Report

May 20, 2021 | 0 Comments

Consumers paid 0.8% more in March 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 0.6 percentage points from February 2021 annual inflation rate of 0.2%.

A Government spokesperson said, “Today, Minister for the Cabinet Office Wayne L. Furbert, JP, MP, released the March 2021 Consumer Price Index [CPI] report.

The Minister explained, “In March 2021 consumers paid 0.8 % more than they did in March 2020 for a basket of goods and services. The food sector was the largest contributor to the increase in the CPI [+2.6 %]. On average, the cost of pineapples, fresh tenderloin steak and eggs rose 32.3 %, 21.2 % and 17.7 %, respectively. The health and personal care and education, recreation, entertainment and reading sectors also impacted strongly on the annual rate of inflation, as price shifts in these sectors measured 2.1 % and 1.8 %, respectively.”

“Between February 2021 and March 2021 the average cost of goods and services increased 0.4 percentage points.

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

  • The Transport & Foreign Travel sector rose 2.2 % for the month. The increase was mainly due to increases in the average cost of overseas car rentals [+11.1 %] and premium fuels [+5.8 %].
  • The Rent sector edged up 0.2 % as the average cost of properties not subject to rent control rose 0.3 %.
  • Food prices moved up 0.3 % in March. On average, items contributing to the increase were boneless fresh and frozen pork loin [+13.3 %], cantaloupes [+6.7 %] and eggs [+2.7 %].

“Lastly, each of us has a role to play in stopping the spread of the coronavirus. Follow Public Health guidelines, wear a mask, practice good hand hygiene, maintain physical distance and download the WeHealth Bermuda app. Do the research, talk with your doctor and make an informed decision about getting the Covid-19 vaccine.”

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

Read More About

Category: All, Business

Leave a Reply