Updated: February 11, 2022 5:38 PM
The government said on Friday that inflation, as measured by the consumer price index, rose by 2.5% in the twelve months to October.
A cabinet ministry statement said that in October 2021 consumers paid 2.5% more than in October 2020 for a basket of goods and services.
The statement continued: “At a glance, on average, the food sector grew 0.2% in October. The main products contributing to the increase were imported lettuce (+6.0%), green peppers (+4.3%) and eggs (+3.1%).
The transportation and foreign travel sector continued to be the main contributor to the 12-month rise in the CPI (+13.9%).
On average, annual increases were reported in the cost of hotel rooms abroad (+35.4%) and air fares (+28.6%). Premium and flex fuel prices increased by 16.5% and 15.3%, respectively.
The education, recreation, entertainment and reading (+2.1%) and health and personal care (+1.7%) sectors also had an impact on the annual inflation rate .
Between September 2021 and October 2021, the average cost of goods and services increased by 0.6%.
Other areas of note in the October 2021 CPI can be found in the attachment or the online report at https://www.gov.bm/bermuda-business-statistics
Every month, the government measures the annual inflation rate and the monthly inflation rate.
Year-over-year changes reflect changes from the same month last year. Monthly changes reflect month-to-month changes.
In October 2021, consumers paid 2.5% more than in October 2020 for a basket of goods and services (Photograph by Mario Proenca/Bloomberg)