News Release: HAMILTON, Bermuda – Minister for the Cabinet Office Wayne Furber released the March 2021 Consumer Price Index (CPI) report on Friday (May 20).
The Minister explained: “In March 2021 consumers paid 0.8 percent more than they did in March 2020 for a basket of goods and services. The food sector was the largest contributor to the increase in the CPI (+2.6 %). On average, the cost of pineapples, fresh tenderloin steak and eggs rose 32.3 percent, 21.2 percent and 17.7 percent, respectively. The health and personal care and education, recreation, entertainment and reading sectors also impacted strongly on the annual rate of inflation, as price shifts in these sectors measured 2.1 percent and 1.8 percent, respectively.”
Between February 2021 and March 2021 the average cost of goods and services increased 0.4 percentage points.
Additional areas of note between February 2021 and March 2021 are as follows:
– The Transport & Foreign Travel sector rose 2.2 % for the month. The increase was mainly due to increases in the average cost of overseas car rentals (+11.1 %) and premium fuels (+5.8 %).
– The Rent sector edged up 0.2 % as the average cost of properties not subject to rent control rose 0.3 %.
– Food prices moved up 0.3 % in March. On average, items contributing to the increase were boneless fresh and frozen pork loin (+13.3 %), cantaloupes (+6.7 %) and eggs (+2.7 %).
Lastly, each of us has a role to play in stopping the spread of the coronavirus. Follow Public Health guidelines, wear a mask, practice good hand hygiene, maintain physical distance and download the WeHealth Bermuda app. Do the research, talk with your doctor and make an informed decision about getting the COVID-19 vaccine.