Food Up 3.1% Annually, Up 0.1% Monthly

April 19, 2024 | 26 Comments

On an annual basis the food sector increased 3.1% and on month to month basis it increased 0.1% in November, according to the recently released November Consumer Price Index.

As far as year to year food prices, the report said, “The Food sector increased 3.1 per cent. The major contributors to the annual increase in the sector were the average cost of dry breakfast cereals [+12.4 per cent], chicken parts [+10.0 per cent] and ice cream [+8.5 per cent].

“In contrast, the annual average price of spare ribs [-20.9 per cent], tomatoes and broccoli [-14.9 per cent] and apples [-12.7 per cent] decreased.”

Looking at food prices on a month to month basis, the report said, “The Food sector was up 0.1 per cent. On average, price increases were reported for margarine [+7.0 per cent], cantaloupes [+4.9 per cent] and soft drinks [+1.5 per cent].

“In contrast, the average cost of whipping cream [-4.6 per cent] and onions [-3.9 per cent] decreased.”

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Comments (26)

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  1. PANDEMIC says:

    Pandemic was the name given to that deadly virus that took the lives of many people here in in Bermuda.

    Pandemic is also the name that surely must apply to the devastating situation that left this island with financial hard ship as the numbers do not look good from one year to the next as prices escalate.

    Unfortunately increasing salaries is merry go round which promoted further escalation .

    That becomes a price war of give and take.

    People are resorting to buying pre owned items . ok! it it works ! the pre owned car business is booming.

    May I ask when is this manopoly going to stop.

    The government gave the taxi industry a boost which is not a 9 to 5 service .

    Frankly increasing prices is not a healthy for the economy, that hurts every one.

    Unfortunately I do not see any body doing any thing about ” Price Gouging”
    Got to call it what is.
    The answer to the problem is the country goes into recession where people stop buying which results in store closures and loss of jobs.
    Price hiking happened back then / when stores marketed their merchandise using the principal of self service with less jobs with price remaining the same at the cashier out front .

    We all remember 2008

    Who saw their power bill increase? we all did !

    Where is all went wrong is where big busness in creased their rates where others did not reduce theirs.

    let me tell you what really has happened Bermuda saw devaluation on the dollar.

    An elderly lady told my wife at a food store the other day that she was dipping into her savings .
    She is ot the only one .!

    The working class got a kick in the but when this island virtual economy came to a stand still when the economy was hit by the Pandemic and the winter’s slow visitor season went flat the national debt and the public debt on mortgages, car loans, and credit cards debt and escalating the cost of consumer items .

    Many of you ask why so many people have left Bermuda .

    The answer to that is, they had no choice.

    You could be next !

    • Reality says:

      The PLP have mismanaged our economy, they mismanaged the pandemic and caused the pain. The overspending through borrowing has left us with nowhere to go, crappy road, failing bus fleets, increased healthcare costs a constantly increasing food bill, and rents. The Air bnb industry needed to be closed down by the PLP, but their greed has resulted us in not having houses to buy or rent. The PLP have caused the Exodus.

      • Hmm says:

        Black people don’t own the grocery stores and they don’t control the prices being sold. More UBPoba lies which is why the opposition will remain the opposition if you don’t fold first.

        • wypipo says:

          Just get one of those white people cards, so you can get the discount too.

          • Joe Bloggs says:

            “Black people don’t own the grocery stores”

            Both wrong and racist. How efficient.

            • Tell says:

              Black folks don’t own the Marketplace or Lindos! Unless you know something the rest of Bermuda doesn’t know is the question?

              • Joe Bloggs says:

                But Hmm did not mention “Marketplace or Lindos”

                He made the sweeping (and racist) statement that “Black people don’t own the grocery stores”. Any grocery stores.

              • Question says:

                The union owns a supermarket. Why don’t they show us how it’s done?
                Why don’t they charge prices like they used to have in 1995? While we’re at it, hire only Bermudians, give them free healthcare, unlimited sick days, 90 days vacation every year, carry forward what you don’t use.
                Show us how it’s done.
                If you can.

          • Lol says:

            It’s easier to be a surrogate in the UBPoba.

            • Joe Bloggs says:

              I think you mean UBP/PLP. The UBP has not existed since 2011, but 2 of its former leaders currently sit as PLP MPs. One is even a cabinet Minister.

              • Truth says:

                You mean they departed when all the other black men and women departed and left your obaUBP 30-6. Now Richardson is the replacement surrogate hold it together with shoestrings.

                • Truth says:

                  So, there are no black people in the OBA?

                  You have to lie in order to feel better about yourself. Hos sad and pathetic of you.

                  • Truth says:

                    The 5% you speak about are surrogates. I understand you’re having serious problems attracting more. The 5% you have now will be leaving you after the next election to form a forth party.

              • Hmmm says:

                Actually is easier to be a surrogate in the OBA and get used.

            • Truth says:

              “It’s easier to be a surrogate in the UBPoba.”

              …because the plp don’t even like their own surrogates and tokens. LOL

  2. trufth says:

    NOVEMBER data?
    Seriously. GTFOH with that noise. This is April!
    We can clone sheep and put people on the moon but we can’t get up to date financial data?? We’ve got some serious problems.

    Get your Plan B ready folks. If they are only telling us how bad things were in November, they must be REALLY bad now.

  3. Carry on says:

    If you don’t like the food increases bring in your own. Business are in it for profit and to be rich.

    • iyiyi says:

      I can tell you from my own experience that with the increase in shipping costs via ocean freight along with the duties and forwarder fees it is a little savings not alot , some things are worth bringing yourself but now you need to research and catch US bargains to make any major savings .

  4. iyiyi says:

    On the other hand many items are here and then gone so items that you like are worth bringing in your self even with little or no savings.

  5. Truth says:

    More price Gouging……. by the OBA clowns.

  6. Joe Bloggs says:

    Why isn’t the Minister responsible for the Economy giving this good news himself?

    Why just release a report without any comment?

  7. Real Deal says:

    food prices will always be a problem because the current model of the markets consumerism is a dead end just like housing eventually there will be a dead end
    for food the solution is to become self sufficient so the markets can become self sufficient.
    what everybody needs to do is go lindos and marketplace and find products their family can take charge of producing locally example someone is doing mushrooms. honey, katchup and peanut butter

    • Joe Bloggs says:

      “for food the solution is to become self sufficient”

      That is a nice idea, but it will not happen in Bermuda. We have too many people and not enough agricultural land. And if it did happen, people would barter and our government would not receive taxes (import duty). Think of all those civil servants would not get paid, and all those poor MPs who would not have control over the economy.

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