The Index of Retail Prices for January 2018 stood at 183.4 points, representing a decrease of 0.9 per cent when compared to the 185.0 points recorded in December 2017.
According to the data produced by the Barbados Statistical Service, increases were recorded in Alcoholic Beverages, Tobacco and Narcotics by 0.9 per cent; Furnishings, Household Equipment and Routine Household Maintenance by 0.9 per cent; and Restaurants and Hotels by 1.5 per cent.
Declines were registered for Food and Non-Alcoholic Beverages by 2.0 per cent; Clothing and Footwear by 1.6 per cent; Housing, Water, Electricity, Gas and Other Fuels by 0.3 per cent; Transport by 0.6 per cent; Recreation and Culture by 6.1 per cent; and Miscellaneous Goods and Services by 0.2 per cent. Health, Communication and Education remained constant during the period.
Between January 2017 and January 2018, the Index of Retail Prices increased by 5.3 per cent from 174.2 to 183.4 points. The average inflation rate for the 12-month period was 4.4 per cent.