Today, the Ministry of Economy and Labour released the Department of Statistics’ June 2024 Consumer Price Index (attached).
“In summary, consumers paid 2.3 per cent more in June 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 was unchanged from the May 2024 annual inflation rate. Some highlights for June 2023 to June 2024 include:
- The Food division increased 4.6 per cent.
- The Rent division advanced 2.1 per cent.
- The Health & Personal Care division increased 3.2 per cent.
- The Education, Recreation, Entertainment & Reading division increased 2.7 per cent.
- The Fuel & Power division rose 6.4 per cent.
Between May 2024 and June 2024, the average cost of goods and services increased 0.1 per cent. Additional areas of note were as follows:
- The Food division increased 1.4 per cent.
- The Rent division rose 0.2 per cent.
- The Household Goods, Services & Supplies division increased 0.1 per cent.
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The Tobacco & Liquor division increased 0.2 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 June 2024 Consumer Price Index is available online at www.gov.bm/bermuda-business-statistics.