(Stock Photo)
The Index of Retail Prices for August 2017 stood at 179.5 points representing an increase of 1.7 percent when compared to the 176.5 points recorded in July of this year.
According to data produced by the Barbados Statistical Service, increases were recorded for Miscellaneous Goods and Services by 5.0 per cent; Alcoholic Beverages, Tobacco and Narcotics by 2.9 per cent; Food and Non-Alcoholic Beverages by 2.4 per cent; Education by 1.8 per cent; Housing, Water, Electricity, Gas and Other Fuels by 1.5 per cent; Furnishings, Household Equipment and Routine Household Maintenance by 1.2 per cent; Restaurants and Hotels by 0.7 per cent; and Recreation and Culture by 0.5 per cent.
Declines were registered for Transport by 0.4 per cent; and Clothing and Footwear by 0.2 per cent. Health and Communication remained constant during the period.
Between August 2016 and August 2017, the Index of Retail Prices increased by 3.8 percent from 173.0 to 179.5 points. The average inflation rate for the 12-month period was 3.5 per cent.