Inflation Rate Move up to 3.4% in the Second Quarter of 2019
The Consumer Price Index in Cayman rose by 3.4 percent in the second quarter of 2019 compared to the same period in 2018. Most of the CPI divisions recorded increases except Transport and Miscellaneous Good and Services. This represents an increase in the inflation rate; albeit, lower than the peak of the second quarter of 2018 (4.8%).
In the second quarter, the highest average price increase in the CPI basket was recorded in the index for the division recreation and culture (11.5%). This was due mainly to an increase in the average cost of recreation and sporting services (44.0%), and a rise in package holidays (abroad) by 23.0 percent on average.
The index for housing and utilities moved up by 10.4 percent. Actual rentals paid by tenants observed rose by 19.3 percent while the imputed rentals for owner occupiers average cost increased by 12.9 percent.
More information from the Cayman Islands’ Consumer Price Index Report: June 2019 may be downloaded from www.eso.ky