(Stock Photo)

The Index of Retail Prices for February 2017 stood at 171.7 points, representing a decline of 0.1 per cent when compared to the 172.5 points recorded the previous month.

According to data produced by the Barbados Statistical Service, increases were recorded for Housing, Water, Electricity, Gas and Other Fuels by 2.2 per cent; Health by 0.3 per cent; Transport by 1.9 per cent; and Miscellaneous Goods and Services by 1.3 per cent.

Declines were registered for Food and Non-Alcoholic Beverages by 2.1 per cent; Alcoholic Beverages, Tobacco and Narcotics by 0.6 per cent; Furnishings, Household Equipment and Routine Household Maintenance by 2.3 per cent; Recreation and Culture by 1.3 per cent; and Restaurants and Hotels by 0.7 per cent. Communication and Education remained constant during the period.

Between February 2016 and February 2017, the Index of Retail Prices increased by 4.1 per cent, from 164.9 to 171.7 points. The average inflation rate for that 12-month period was 2.2 per cent.

Economic Affairs Division

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