February Consumer Price Index: Inflation 2.5%
The Ministry of Economy and Labour released the February 2024 Consumer Price Index from the Department of Statistics.
A Government spokesperson said, “In summary, consumers paid 2.5 per cent more in February 2024 than a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. This level of inflation was unchanged from the January 2024 annual inflation rate. Some highlights for February 2023 to February 2024 include:
- The Rent division increased by 2.3 per cent.
- The Food division advanced 4.0 per cent.
- The Education, Recreation, Entertainment & Reading division increased by 3.3 per cent.
- The Health & Personal Care division increased 2.6 per cent.
- The Household Goods, Services & Supplies division rose 2.4 per cent.
“Between January 2024 and February 2024, the average cost of goods and services increased.
“0.1 per cent. Additional areas of note between January 2024 and February 2024 were as follows:
- The Food division increased 0.7 per cent.
- The Household Goods, Services & Supplies division rose 0.5 per cent.
- The Rent division increased by 0.1 per cent.
- The Tobacco & Liquor division increased 0.3 per cent.
The full February 2024 Consumer Price Index follows below [PDF here]:
Acording to the latest whistle blowers names unknown may I ask is that 2.5% increase over the existing 10%?
The problem as it is now , if you did not get a raise of 10 % like many others did you are ok. ! but you should realize That inflation did no go away the cost of living for everyone went up.
The seniors buying power of their income dropped by 10 % simply called devaluation plus inflation you are looking a 20 % or the hated word ” devaluation of the national dollar.”
Both words mean the same thing .
PENSIONES ARE FIXED INCOME 2.4%
That devaluation does incredible damage to our countries economy and that went over many peoples heads, to prove the point because nothing was done about it. there were no controls in place .
Another way of looking at it devaluation never goes away .
Personaly I knew devaluation was gouing to hit Bermuda as i knew it was just a matter of time.
Are we betty off because of it. NOT A CHANCE !
If you did receive a 10 % increase in you income from you companies profits YES then some body in increased profits where you work to balance the books and you payed more for your bread and butter .
Carering to inflation brough the so called your economy back to square one for some but not all.
The pensioners are always the less fortunate with the promise or 2.4 % for seniors pensioners in October 24 why the delay you may ask ? that is an insult !
They are treating devaluation as if it never happenred but inflation included did happen and it got out of hand.
The bottom line is the cost of living went up with seniors and pensioners getting a kick in the pants.
For example over in Blighty years ago seniors pensions increased up by2% with the price of coal going up by 4%.
Here they never tell you the value of the pension funds and where the 2.4% is coming from !
if the economy is devalued by 10% so it nessesarly follows that the person fund has devalued by 10% ie it is worth less. or has less value.
It cost our visitors more to come here.and stay a few days .
It is said by the experts that devaluation encourages more business but the dont realize that a country never recover from devaluation of its currency .
According to the United States government, inflation there was 3.4% in February 2024. Once again, the cost of goods imported from the United States decreased (by almost 1%) by being loaded on a ship in Port Elizabeth N.J and being shipped to Bermuda.