12/10/2014 // eso (Press Release) // Ms. Ebanks // (press release)
The Consumer Price Index (CPI) recorded an increase of 1.5 percent in the quarter ending September 2014 compared to a year ago.
“I am pleased to note that despite the upswing in local economic activity, the inflation rate remains moderate,” stated the Minister for Finance and Economic Development, Honourable Marco Archer. “This is also slightly lower than the 1.7 percent inflation rate recorded in the United States for the same quarter,” he further noted.
A number of major items contributed to the modest increase in the CPI, led by household equipment and routine maintenance (7.8%). This category includes household textiles and services for routine household maintenance such as residential housework, baby-sitting, and fumigation services.
The price index for housing and utilities increased slightly by 1.4 percent. Actual rentals averaged higher by 3.8 percent due to an upward movement for one-bedroom units. Water supply and miscellaneous services rose by 2.8 percent while electricity, gas and other fuels moved up by 1.1 percent.