(Stock Image)

(Stock Image)

The Index of Retail Prices for February 2016 stood at 164.9 points, representing a decline of 0.7 per cent when compared with the 166.1 points recorded the previous month.

According to data produced by the Barbados Statistical Service, increases were recorded for Health by 1.3 per cent; Food and Non-Alcoholic Beverages by 1.0 per cent; and Alcoholic Beverages, Tobacco and Narcotics by 0.4 per cent.

Decreases were registered for Housing, Water, Electricity, Gas and Other Fuels by 5.1 per cent; Transport by 1.6 per cent; Clothing and Footwear, as well as Miscellaneous Goods and Services by 1.3 per cent each; Furnishings, Household Equipment and Routine Household Maintenance by 0.5 per cent; and Education by 0.1 per cent.

Communication; Recreation and Culture; and Restaurants and Hotels remained constant during the period. Between February 2015 and February 2016, the Index of Retail Prices decreased by 0.8 per cent from 166.3 to 164.9 points. The average inflation rate for that period was 1.4 per cent.

Division of Economic Affairs

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