March 24,2020
In view of the latest situation concerning COVID-19 and to comply with the Government’s directive announced on March 24th: Our office will be closed from March 25th 2020 and will reopen April 6th 2020. During this closure, we will occasionally be accessing our emails which could result in delayed responses. Sorry for the inconvenience this closure may cause. Please continue to check this space for further updates.
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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 / Consumer Prices Increased on Average by 5.7 percent in 2019

Consumer Prices Increased on Average by 5.7 percent in 2019

The average annual Consumer Price Index (CPI) rose by 5.7 percent in 2019 when compared to a year ago. There were increases in all quarters throughout 2019: 4.5 percent in the first quarter, followed by 3.8 percent, 6.0 percent, and 8.4 percent in the succeeding quarters.

The 5.7 percent overall average inflation rate in 2019 is traced to the price uptrends in all divisions. The highest average inflation rates were estimated for housing and utilities (9.5%), recreation and culture (7.0%), communication (6.4%), clothing and footwear (6.2%) and education (5.0%) — the price index for housing and utilities comprise the highest weight in the CPI basket. Food and non-alcoholic beverages had an average increase of 1.2 percent in 2019.

The Consumer Price Index (CPI) rose by 8.4 percent in the fourth quarter of 2019 compared to the same period in 2018. The transport division recorded the highest average price increase in the CPI basket (14.5%). This was due mainly to the rise in the average cost of passenger transport by air, which rose by 34.9 percent while the average cost for the purchase of motor vehicles increased by 16.7 percent.

The index for housing and utilities moved up by 12.1 percent in the fourth quarter of 2019. The main contributors to this increase were actual rentals paid by tenants up by 19.7 percent, imputed rentals for owner-occupiers up by 12.9 percent, and services for the maintenance and repair of the dwelling up by 6.6 percent.

More information from the Cayman Islands’ Consumer Price Index Report: October to December 2019 may be downloaded from www.eso.ky