Food Up 10.3% Annually, Down 0.1% Monthly

March 16, 2023

The average cost of lettuce went up 59.1%, pasta went up 57.3%, and eggs went up 56.6% on a year to year basis, while on a month to month basis, the average cost of frozen spare ribs decreased 15.3%, boneless pork loin decreased 13.0% and apples decreased 5.6%.

This is according to the recently released December Consumer Price Index which said that on an overall month to month basis the food sector was down 0.1%, while an annual basis, food sector prices rose 10.3%.

As far as year to year food prices, the report said, “The Food sector continues to be the largest contributor to the twelve-month increase in the CPI [+10.3 per cent]. The major contributors to the annual increase in the sector were the average cost of lettuce [+59.1 per cent], pasta [+57.3 per cent], eggs [+56.6 per cent] and cooking oil [+51.5 per cent]. The largest year-to-year decreases were frozen spare ribs [-4.9 per cent], boneless pork loin [-2.5 per cent] and coffee [-2.1 per cent].”

Looking at food prices on a month to month basis, the report said, “The Food sector was down 0.1 per cent. The average cost of frozen spare ribs [-15.3 per cent], boneless pork loin [-13.0 per cent] and apples [-5.6 per cent] decreased.”

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Comments (10)

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  1. Joe Bloggs says:

    “Food Up 10.3% Annually”

    No, no, no! Inflation in Bermuda is only 4.1%! See

  2. ella says:

    Inflation is making me shop for less and less and less and less!!

  3. ella says:

    How can Granola Bars be almost $10? Ridiculous!! A loaf of bread a container of milk and a stick of butter just popped into my head. LOL

    • Joe Bloggs says:

      Just be thankful you live in Bermuda, where price inflation is only half that prevailing in the U.S. or the U.K. or Canada!

      • Dejavu says:

        You really have no idea what your talking about lol. In the UK and US you can buy two bags of groceries for $30–$40. There’s no store on the island where you can spend that much on one bag lol. This why whole generations have left and will never come back to bermuda. The oldest generations can have bermuda because there’s nothing left anyway

        • Joe Bloggs says:

          “You really have no idea what your talking about lol.”

          I’m talking about price inflation, not the cost of goods. Price inflation measures the cost of goods over time in a particular place or region.

          I agree that groceries are much cheaper in the U.S. or the U.K. or Canada. There are many reasons for that, not the least of which is that those countries grown food, they do not import almost everything on a container ship or in an aircraft that needs staff and burns fuel. That costs us extra.

          If you want a quick lesson, go buy some produce in Orlando or Tampa, Florida. Then drive down to Key West and buy the same things. Key West will be more expensive because of the cost of transportation to Key West and the more limited population there to buy those goods.

        • saud says:

          “You really have no idea what your talking about lol.”

          Neither do you.
          You can’t recognize sarcasm, and you seem to be woefully unaware that your government states that inflation is under 3%.

          • Dejavu says:

            You do realize he said I was right lol and it wasn’t sarcasm he was being serious when he said it’s cheaper for groceries in Bermuda than UK and US. Anyone that believes that is a moron

            • Joe Bloggs says:

              I did not say anyone was right or wrong. I said “be thankful you live in Bermuda”.

              And I was being sarcastic. It is simply not possible for our 3 main trading partners, from whom we purchase 95% of all goods consumed in Bermuda, to have inflation rates around 10% but for Bermuda to have an inflation rate of only 4.1%. The price of goods does not go down between Port Elizabeth, N.J. or Miami and Bermuda. The cost of travel from Port Elizabeth or Miami to Bermuda increases the price of goods.

    • PBanks says:

      Yep, that Nature Valley brand has stayed away from my cart for the past few months. Let those who don’t mind splurging, have at it.