The Index of Retail Prices for December 2017 stood at 185.0 points, representing an increase of 0.1 per cent when compared to the 184.9 points recorded the previous month.
According to data produced by the Barbados Statistical Service, increases were recorded for Food and Non-Alcoholic Beverages by 0.4 per cent; Furnishings, Household Equipment and Routine Household Maintenance by 0.5 per cent; Health by 0.05 per cent; and Restaurants and Hotels by 0.5 per cent.
Declines were registered for Alcoholic Beverages, Tobacco and Narcotics by 0.2 per cent; Clothing and Footwear by 0.3 per cent; Housing, Water, Electricity, Gas and Other Fuels by 0.5 per cent; Transport by 0.3 per cent; Recreation and Culture by 0.5 per cent; and Miscellaneous Goods and Services by 0.3 per cent. Communication and Education remained constant during the period.
Between December 2016 and December 2017, the Index of Retail Prices increased by 6.6 per cent, from 173.6 to 185.0 points. The average inflation rate for the 12-month period was 4.4 per cent.