Index Of Retail Prices For January 2016

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The Index of Retail Prices for January 2016 stood at 166.1 points, representing a decline of 0.7 per cent when compared with the 167.2 points recorded the previous month.

According to data produced by the Barbados Statistical Service, an increase was recorded for Restaurants and Hotels by 4.6 per cent; and Alcoholic Beverages, Tobacco and Narcotics by 1.1 per cent.

Furnishings, Household Equipment and Routine Household Maintenance, as well as Transport, all recorded increases of 0.4 per cent each, while Health and Recreation and Culture increased by 0.1 per cent each.

Decreases were registered for Food and Non-Alcoholic Beverages by 2.1 per cent; Housing, Water, Electricity, Gas and Other Fuels by 1.5 per cent; and Clothing and Footwear by 0.3 per cent.??Communication, Education and Miscellaneous Goods and Services remained constant during the period.

Between January 2015 and January 2016, the Index of Retail Prices decreased by 1.6 per cent from 168.7 to 166.1 points. The average inflation rate for that 12-month period was -1.3 per cent.

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