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The Index of Retail Prices for May 2018 stood at 182.3 points, representing an overall increase of 0.1 per cent from the 181.6 points recorded the previous month.

According to data produced by the Barbados Statistical Service, several indices increased throughout the month in comparison to the reported figures for April.

These include: Furnishings, Household Equipment and Routine Household Maintenance by 3.5 per cent; Transport by 2.6 per cent; Health by 1.7 per cent; Restaurants and Hotels by 0.8 per cent; Education by 0.7 per cent; Alcoholic Beverages, Tobacco and Narcotics by 0.5 per cent and Food and Non-Alcoholic Beverages by 0.3 per cent.

On the other hand, decreases were reported within the indices for Housing, Water, Electricity, Gas and Other Fuels of 1.9 per cent; Clothing and Footwear of 1.3 per cent; Miscellaneous Goods and Services of 1.1 per cent as well as Recreation and Culture which declined by 0.6 per cent. However, the Index for Communication recorded no change.

Between May 2017 and May 2018, the Index of Retail Prices increased by 5.1 per cent from 173.4 to 182.3 points. The average inflation rate for the 12-month duration stood at 5.0 per cent.

Economic Affairs Division 

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