December Consumer Price Index: Inflation 2.1%
Consumers paid 2.1% more in December than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI].
A Government spokesperson said, “Today, the Ministry of Economy and Labour released the Department of Statistics’ December 2024 Consumer Price Index.
“In summary, the annual average percentage was 1.9 percent in 2024, demonstrating a continued moderation of the average rate of price growth, which was down from 3.3 percent in 2023. Consumers paid 2.1 per cent more in December 2024 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. This level of inflation increased 1.0 percentage points from the November 2024 annual inflation rate. Some highlights for December 2023 to December 2024 include:
- The Rent division increased 2.1 per cent.
- The Health & Personal Care division increased 3.1 per cent.
- The Food division increased 2.8 per cent.
- The Transport & Foreign Travel division increased 2.7 per cent.
- The Education, Recreation, Entertainment & Reading division rose 1.6 per cent.
“Between November 2024 and December 2024, the average cost of goods and services increased 0.4 per cent. Additional areas of note between November 2024 and December 2024 were as follows:
- The Transport & Foreign Travel division increased 1.8 per cent.
- The Rent division rose 0.6 per cent.
- The Household Goods, Services & Supplies division increased 0.4 per cent.
- The Education, Recreation, Entertainment & Reading division was unchanged.”
The full December 2024 Consumer Price Index follows below [PDF here]:
