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The Index of Retail Prices for May 2017 stood at 173.5 points, representing an increase of 0.9 per cent when compared with the 172.0 points recorded the previous month.

According to data produced by the Barbados Statistical Service, increases were recorded for Food and Non-Alcoholic Beverages by 2.4 per cent; Health by 1.5 per cent; Furnishings, Household Equipment and Routine Housing Maintenance by 0.8 per cent; Restaurants and Hotels by 0.2 per cent; Clothing and Footwear by 0.1 per cent; and Housing, Water, Electricity, Gas and Other Fuels by 0.1 per cent.

Declines were registered for Education by 3.8 per cent; Miscellaneous Goods and Services by 0.9 per cent; Recreation and Culture by 0.7 per cent and Transport by 0.4 per cent. Alcoholic Beverages, Tobacco and Narcotics; and Communication remained constant during the period.

Between May 2016 and May 2017, the Index of Retail Prices increased by 2.4 per cent from 169.5 to 173.5 points. The average inflation rate for the 12-month period was 3.4 per cent.

Economic Affairs Division

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