September 16,2019
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Projected Gross Domestic Product:
3.3%, 2018 / 2017
Gross Domestic Product Actual:
3.0%, Dec 2017 / Dec 2016
First Quarter Consumer Price Index (CPI):
4.5 %, March 2019 / March 2018
Total Population:
65,813, as of Fall 2018
Unemployment Rate:
2.8%, as at Fall 2018
Merchandise Imports ($):
11.2% March 2019 / March 2018
Balance of Payments Current Account Deficit (EST) % GDP:
32.1%, Dec 2017
Home / News / Consumer Price Index Recorded a Decline in the First Quarter

Consumer Price Index Recorded a Decline in the First Quarter

"The Consumer Price Index (CPI) fell by 0.4 percent in the first quarter of 2015."

Consumer Price Index Recorded a Decline in the First Quarter

 

The Consumer Price Index (CPI) fell by 0.4 percent in the first quarter of 2015.

 

“This is the first time since September 2010 that the CPI of the Cayman Islands showed a negative movement,” stated the Minister for Finance and Economic Development, Honourable Marco Archer.  “It parallels the 0.1 percent CPI decline in the United States (US) during the same period. The general price movements in the two countries reflect the impact of global oil price reductions,” he further noted.

 

The major groups that contributed to the decrease in the CPI were restaurants and hotels (-8.2%); miscellaneous goods and services (-2.3%); and housing and utilities (-1.1%). The last category, which accounts for 2/5 of the entire CPI basket, had a significant price decline in electricity, gas and other fuels (-13.6%). In contrast, the price index for food and non-alcoholic beverages recorded a 2.9 percent increase.