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The Index of Retail Prices for July 2016 stood at 173.5 points, representing an increase of 2.2 per cent when compared to the 169.8 points recorded the previous month.

According to data produced by the Barbados Statistical Service, increases were recorded for Education by 17.1 per cent; Clothing and Footwear by 5.1 per cent; Miscellaneous Goods and Services by 3.1 per cent; Transport by 2.9 per cent; and Food and Non-Alcoholic Beverages by 2.7 per cent.

There were also increases in Other Food Products by 2.3 per cent; Housing, Water, Electricity, Gas and Other Fuels by 1.4 per cent; Furnishings, Household Equipment and Routine Household Maintenance by 1.0 per cent; Alcoholic Beverages, Tobacco and Narcotics by 0.4 per cent; and Restaurants and Hotels by 0.3 per cent.

Decreases were registered for Recreation and Culture by 3.2 per cent; and Health by 0.8 per cent. The Communication group remained constant during the period.

Between July 2015 and July 2016, the Index of Retail Prices increased by 2.9 per cent, from 168.6 to 173.5 points. The average inflation rate for that period was 0.6 per cent.

Economic Affairs Division

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