But thank you for confirming Bermuda’s inflation numbers are cooked. Raw, medium, or well done? I would go with burnt to a crisp.

The likelihood of Bermuda Container Line or Somers Isles Shipping paying importers to ship goods to Bermuda is about the same as pigs flying or Bermuda’s true rate of inflation being less than that of the countries from which we import the vast majority of our consumable goods.

Does that even make a modicum of sense? Come on now, you are smarter than that. How about, and this is just a thought, that Bermuda’s inflation numbers are being cooked? Do you do the grocery shopping? Put gas in the car?

We pack our suitcases full of specific cost-saving items from the US to bring back to Bermuda. Even after paying the 25% duty at the airport, we save more than enough money to pay for our plane tickets and more left over.

I love the fact that Bermuda Container Line and Somers Isles Shipping pay importers to ship goods to Bermuda. That is the only way I can fathom that prices go down between the port of departure and Bermuda.

Simplistically, inflation increases the cost of goods and raw materials from say the USA. That increased cost has a ripple effect with higher import duties and other costs. All the increased costs are passed on to consumers and businesses. Yet somehow Bermuda has a lower inflation rate than the USA.

“The annual inflation rate for the United States was 2.9% for the 12 months ending July, compared to the previous rate increase of 3%, according to U.S. Labor Department data published on August 14, 2024.”

How is it possible for Bermuda to have a lower inflation rate than the US? 2.5% vs. 2.9%. What about other countries where Bermuda imports goods and raw materials from?

“Canada’s annual inflation rate dropped to 2.5 percent in July — down from 2.7 percent in June, Statistics Canada said Tuesday.

The national statistics agency said inflation increased at the slowest pace in more than three years, since March 2021.”

UK: The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 3.1% in the 12 months to July 2024, up from 2.8% in June 2024.

Mexico: Mexico’s annual inflation rate quickened for the fifth month to 5.57% in July 2024, up from 4.98% in June, in line with market estimates. It was the highest reading since May 2023, mainly due to surging prices of food & non-alcoholic prices (7.77% vs 6.54% in June), notably fruits and vegetables (23.55% vs 19.73%). Additional significant upward pressure came from restaurants & hotels (6.42% vs 6.43%); education (6.37% vs 6.35%); miscellaneous goods & services (5.54% vs 5.79%) and housing & utilities (5.72% vs 4.52%), among others.

EU: The euro area annual inflation rate was 2.6% in May 2024, up from 2.4% in April. A year earlier, the rate was 6.1%. European Union annual inflation was 2.7% in May 2024, up from 2.6% in April. A year earlier, the rate was 7.1%. These figures are published by Eurostat, the statistical office of the European Union.

The BTA does nothing for cruise ship numbers. The PLP Government has no interest in rich white guys and their sailboat races. The Newport, Marion and Annapolis races have been going on long before the PLP and now useless BTA arrived.

How about comparing the leisure air visitors only?

That is only a 2.5% adjustment, at least that was the reported inflation rate in February of this year. See https://bernews.com/2024/08/february-consumer-price-index-inflation-2-5/

Personally, I love that fact that our economy is so strong that Bermuda’s inflation rate is lower than that of the United States.