Third Quarter 2011 CPI Report Released
"The Consumer Price Index (CPI) for the quarter ending September 2011 increased by 2.6 percent compared to the quarter ending September 2010."The Consumer Price Index (CPI) for the quarter ending September 2011 increased by 2.6 percent compared to the quarter ending September 2010. This was mainly due to sharp movements in the indices for transportation, health and food groups.
⫿The inflation in the third quarter was spurred by changes in the average cost of operation of personal transport equipment (13.1%) and transport services (9.4%). These were directly related to the cost of fuel which recorded an average increase of 21.9 percent,??? noted the Hon. Premier and Minister of Finance, Mr. McKeeva Bush.
The cost of health services went up by 8.4 percent due to price changes for outpatient services (11.9%) and hospital services (1.1%), amidst a 0.5-percent price decline for medical products, appliances and equipment.
Food and non-alcoholic beverages increased on average by 4.0 percent resulting from a number of sub-groups led by fish and seafood (11.4%), mineral water, soft drinks, fruit & vegetable juices (7.4%) and milk, cheese & egg (7.1%).
The Hon. Premier and Minister of Finance further noted that the third quarter 2011 CPI increased by 0.5 percent compared to the second quarter of 2011 mainly due to a sharp increase in the price index for health services (7.0%).