The Index of Retail Prices for May 2014 stood at 168.7 points, representing an increase of 0.4 per cent when compared with the 168.0 points recorded the previous month.

Increases of 1.7 per cent were recorded for Fuel and Light; 1.6 per cent for Transportation; 0.7 per cent for Food; and 0.4 per cent for Education, Recreation and Miscellaneous.

Decreases of 2.5 per cent were recorded for Clothing and Footwear; 1.6 per cent for Housing; 0.2 per cent for Household Operations and Supplies; and 0.1 per cent for Medical and Personal Care. Alcoholic Beverages and Tobacco remained constant over the period.

Between May 2013 and May 2014, the Index of Retail Prices increased by 1.5 per cent from 166.2 points to 168.7 points. The average inflation rate for that period was 1.7 per cent.

Author: Economic Affairs Division/Sharon Austin

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