Today, the Ministry of Economy and Labour released the Department of Statistics’ April 2024 Consumer Price Index.
“In summary, consumers paid 2.2 per cent more in April 2024 than a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. This level of inflation increased 0.3 percentage points from the March 2024 annual inflation rate. Some highlights for April 2023 to April 2024 include:
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The Rent division increased 2.2 per cent.
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The Health & Personal Care division advanced 3.3 per cent.
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The Food division increased 3.6 per cent.
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The Education, Recreation, Entertainment & Reading division increased 3.0 per cent.
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The Fuel & Power division rose 6.4 per cent.
Between March 2024 and April 2024, the average cost of goods and services increased 0.8 per cent. Additional areas of note between March 2024 and April 2024 were as follows:
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The Health & Personal Care division increased 2.7 per cent.
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The Transport & Foreign Travel division rose 2.7 per cent.
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The Food division increased 0.3 per cent.
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The Clothing & Footwear division increased 1.3 per cent.
*Note: In summary, the Government measures the annual and monthly rate of inflation each month. Annual changes are from the same month last year, and monthly changes are from month to month. The April 2024 Consumer Price Index is available online at www.gov.bm/bermuda-business-statistics.