Food Prices Up 5.6% Annually And 0.7% Monthly
The cost of sugar went up 40.1%, pineapples went up 23.1%, and baby food went up 10.9% on annual basis, while on a month to month basis, the average cost of onions increased 19.1%.
This is according to the recently released August Consumer Price Index which said that on an overall month to month basis the food sector increased 0.7% in August 2023, while on an annual basis, the food sector increased 5.6%.
As far as year to year food prices, the report said, “The Food sector was the largest contributor to the twelve-month increase in the CPI [+5.6 per cent]. Factoring into the annual increase was the cost of sugar [+40.1 per cent], pineapples [+23.1 per cent] and baby food [+10.9 per cent]. In contrast, the annual average price of eggs [-18.0 per cent], green peppers [-17.2 per cent] and tenderloin [-12.4 per cent] decreased.
“In contrast, the annual average price of eggs [-18.0 per cent], green peppers [-17.2 percent] and tenderloin [-12.4 per cent] decreased.”
Looking at food prices on a month to month basis, the report said, “The Food sector rose 0.7 per cent for the month. On average, the main items contributing to the increase were the cost of onions [+19.1 per cent], beef and turkey franks [+13.3 per cent] and pineapples [+8.2 per cent]. In contrast, the average cost of baked beans [-5.5 per cent] and green peppers [-5.1 per cent] declined.
“In contrast, the average cost of baked beans [-5.5 per cent] and green peppers [-5.1 per cent] declined.”
It seems like only couple of days ago that the Ministry of Economy and Labour reported a 2.4% year-over-year increase in the Consumer Price Index.
https://bernews.com/2024/01/august-consumer-price-index-inflation-2-4/
Hmmm. Loaf of bread today $8.++
The price of EVERYTHING in Bermuda is already astronomically overpriced so ANY Increase only makes it even more expensive to afford to eat and impossible to live comfortably when you can’t survive on one paycheck to keep you afloat..it is extortion to charge $8 for a loaf of bread!!!!!!! Why on earth does bread need to cost $8???? And why does food need to increase so drastically?? What forced that to happen.. Or should I ask, who????the same way food was shipped to Bermuda before the exaggerated increases, and sugar apparently being one of the biggest increase, is the same way food is shipped now!! Btw, sugar cost the same today in the UK as it did before the sugar tax!!!!!! Work That out!! So
why is Bermuda exploiting that when no other country in the planet has… The only difference I can see, is fuel cost, because of war.. Over in Europe!! What does war in Europe have to do with shipping from America??? Did fuel for shipping increase by thousands ???? that food cost needed to increase by hundreds?? Something very fishy going on in Bermuda and I think it’s more to do with ignorance than brilliance ????