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 / CPI Records 2.8% Growth in the Third Quarter reports Cayman ESO

CPI Records 2.8% Growth in the Third Quarter reports Cayman ESO

"The Consumer Price Index (CPI) for the third quarter ending September 2013 rose by 2.8 percent compared to the quarter ending September 2012."

The Consumer Price Index (CPI) for the third quarter ending September 2013 rose by 2.8 percent compared to the quarter ending September 2012.

⫿This is the highest inflation rate since December 2008,??? stated the Hon. Minister for Finance and Economic Development, Mr. Marco Archer. ⫿A few items showed sharp price increases such as tobacco products and health insurance,??? he further noted.

Average prices for tobacco products rose 49.2 percent resulting largely from the 100 percent increase in duty in effect from September 2012.

The average premium for health insurance was 59.6 percent higher compared to the same period in 2012, in view of higher benefits as well the introduction of payments towards an indigent fund.

⫿We are closely monitoring these price changes. It is expected, however, that the inflation rate for these items will normalize in the future quarters; that is, the annual impact of the factors causing the increases will taper off,??? Minister Archer further explained.

Consumer Price Index update provided by the Cayman ESO http://news.eso.ky.



Tags: Consumer Price Index, Cayman ESO