(Stock Photo)

The Index of Retail Prices for May 2016 stood at 169.7 points, representing an increase of 2.4 per cent when compared to 165.8 points recorded the previous month.

According to data produced by the Barbados Statistical Service, increases were recorded for Food and Non-Alcoholic Beverages by 4.3 per cent; Housing, Water, Electricity, Gas and Other Fuels by 2.5 per cent; Transport by 2.1 per cent; Health by 1.9 per cent; Miscellaneous Goods and Services by 0.3 per cent; and Education by 0.2 per cent.

Alcoholic Beverages, Tobacco and Narcotics; Furnishings, Household Equipment and Routine Household Maintenance; Communication; as well as Recreation and Culture, all recorded an increase of 0.1 per cent.

A decrease was registered for Clothing and Footwear by 0.9 per cent; while Restaurants and Hotels remained constant during the period.

Between May 2015 and May 2016, the Index of Retail Prices increased by 1.5 per cent from 167.1 to 169.7 points. The average inflation rate for that period was 1.0 per cent.

Division of Economic Affairs

Pin It on Pinterest