Today, the Ministry of Economy and Labour released the Department of Statistics’ July 2024 Consumer Price Index (attached).
"In summary, consumers paid 1.9 per cent more in July 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 decreased 0.4 percentage points from the June 2024 annual inflation rate. Some highlights for July 2023 to July 2024 include:
- The Food division increased 4.9 per cent.
- The Rent division increased 2.1 per cent.
- The Health & Personal Care division increased 3.3 per cent.
- The Education, Recreation, Entertainment & Reading division increased 2.5 per cent.
- The Household Goods, Services & Supplies division rose 1.7 per cent.
Between June 2024 and July 2024, the average cost of goods and services increased
0.1 per cent. Additional areas of note between June 2024 and July 2024 were as follows:
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The Food division increased 0.5 per cent.
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The Fuel & Power division rose 1.0 per cent.
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The Rent division increased 0.2 per cent.
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The Clothing & Footwear division increased 0.7 per cent.
*Note: In summary, the Government measures the annual and monthly inflation rates. Annual changes are from the same month last year, and monthly changes are from month to month. The July 2024 Consumer Price Index is available online at www.gov.bm/bermuda-business-statistics.