News Release: HAMILTON, Bermuda – The Ministry for the Cabinet Office released the August 2021 Consumer Price Index (CPI) from the Department of Statistics.
In summary, during August 2021 consumers paid 1.6 percent more than they did in August 2020 for the basket of goods and services.
The Transport & Foreign Travel sector continues to be the largest contributor to the 12-month increase in the CPI (+9.1 %). The main contributors to the increase were the average cost of airfares (+17.5 %) and premium fuels (+15.3 %), respectively.
Meanwhile, the Health & Personal Care sector and the Household Goods, Services & Supplies sector also impacted strongly on the annual rate of inflation, as price shifts in both sectors measured 1.9 percent.
Between July 2021 and August 2021 the average cost of goods and services did not change.
Additional areas of note between July and August 2021 are as follows:
• The Transport & Foreign Travel sector declined 1.8 percent. The drop in this sector was attributed to the decrease in the average cost of overseas car rentals.
• The Rent sector was up 0.6 % as the average cost of properties not subject to rent control and properties under rental control, advanced 1.2 percent and 0.1 percent, respectively.
• The Food sector increased +0.5 percent for the month. The main items contributing to the rise was the average price of imported lettuce (+11.0 %), frozen spare ribs (+5.4 %) and cantaloupes (+5.2 %).
• The Tobacco & Liquor sector increased 0.3 % as the average cost of spirits and beer increased 1.4 percent and 0.1 percent, respectively.
*Note: Each month the Government measures the annual rate of inflation and the monthly rate of inflation. Annual changes reflect changes from the same month last year. Monthly changes reflect changes from month to month.
