The Index of Retail Prices for March 2017 stood at 172.9 points, representing a decline of 0.3 per cent when compared to the 173.5 points recorded the previous month.
According to the Barbados Statistical Service, increases were recorded for Furnishings, Household Equipment and Routine Household Maintenance by 3.6 per cent; Housing, Water, Electricity, Gas and Other Fuels by 2.2 per cent; Transport by 1.3 per cent; and Restaurants and Hotels by 0.5 per cent.
Declines were registered for Food and Non-Alcoholic Beverages by 2.5 per cent; Recreation and Culture by 1.9 per cent; Alcoholic Beverages, Tobacco and Narcotics by 0.5 per cent; Miscellaneous Goods and Services by 0.5 per cent; and Clothing and Footwear by 0.4 per cent. Health, Communication, and Education remained constant during the period.
Between March 2016 and March 2017, the Index of Retail Prices increased by 3.6 per cent from 164.9 to 172.6 points. The average inflation rate for the twelve-month period was 2.8 per cent.