March 24,2020
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Latest Indicators

Projected Gross Domestic Product:
3.1%, Jan - June 2019 / Jan - June 2018
Gross Domestic Product Actual:
4.1%, Dec 2018 / Dec 2017
Average Consumer Price Index (CPI):
5.7%, 2019 / 2018
Total Population:
68,076, as of Spring 2019
Unemployment Rate:
3.0%, as at Spring 2019
Merchandise Imports ($):
17.3% Jan - Sept 2019 / Jan - Sept 2018
Balance of Payments Current Account Deficit (EST) % GDP:
18.7% of GDP, Dec 2018
Home / News / Inflation Rate Slows Down in Second Quarter to 0.7%

Inflation Rate Slows Down in Second Quarter to 0.7%

"Consumer prices in the Cayman Islands recorded an overall increase of 0.7 percent for the one year period June 2013 to June 2014."

Consumer prices in the Cayman Islands recorded an overall increase of 0.7 percent for the one year period June 2013 to June 2014.

⫿The inflation rate is partly the result of a 15.8 percent increase in the cost of accommodation services, most likely due to robust demand for tourism services,??? noted the Minister for Finance and Economic Development, Honourable Marco Archer. ⫿However, the inflation rate in the second quarter is lower than the 2.3 percent estimated for the first quarter of 2014,??? he further noted.

The decline in housing and utilities price index contributed to the lower inflation rate in the second quarter. Imputed rentals for owner-occupied housing fell by 3.2 percent while the average cost of electricity, gas and other fuels declined by 1.2 percent.



Tags: Inflation Rate, Cayman Islands, Cayman ESO