“The annual inflation rate has remained unchanged”
“The annual inflation rate remained unchanged from the previous month”, according to the recently released consumer price index [CPI] of the Department of Statistics.
A government spokesperson said: “The Minister of the Cabinet Office, the Hon. Wayne L. Furbert, JP, MP, released the September 2020 Consumer Price Index [CPI] publication of the Department of Statistics.
The minister explained: “In September 2020, consumers paid 0.7% less than they paid for the CPI basket of goods and services in September 2019. Between August 2020 and September 2020, the average cost of all goods and services fell by 0.4 percentage point.
Minister Furbert added: “The rental industry continues to have a strong influence on the annual inflation rate as prices fell 4.2% as non-rent controlled properties fell by 9%. , 5% year-on-year. This means that on average rents fell by 9.5% between September 2019 and September 2020. The Transport & Foreign Travel and Fuel & Power sectors also strongly impacted the annual inflation rate, the price reductions in these sectors being 5.3% and 5.8%. , respectively.”
“Other areas of note in the September 2020 CPI are the following changes between August 2020 and September 2020:
- Rents fell 1.3%.
- The average cost of properties not subject to rent control fell 2.9%.
- The transportation and foreign travel sector fell 1.3% in September.
- The health and personal care sector saw no price movement for the month.
- The tobacco and liquor industry rose 0.9 percent for the month, with the average cost of wine and beer rising 2.7 percent and 0.2 percent, respectively.
- The food sector rose 0.3 percent in September.
- Notable price changes have occurred in the average cost of fresh and frozen turkeys [+5.7 per cent]bagged apples [+2.3 per cent] and roast chickens [+1.8 per cent].
- Education, recreation, entertainment and reading increased 0.1 percent in September.
“* Note: In summary, each month the government measures the annual inflation rate and the monthly inflation rate.
The full consumer price index for September 2020 follows below [PDF here]:
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