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The Index of Retail Prices for October 2017 stood at 184.0 points, representing an increase of 1.5 per cent when compared to the 181.3 points recorded the previous month.

According to data produced by the Barbados Statistical Service, increases were recorded for Food and Non-Alcoholic Beverages by 1.2 per cent; Alcoholic Beverages, Tobacco and Narcotics by 2.0 per cent; Housing, Water, Electricity, Gas and Other Fuels by 3.1 per cent; and Furnishings, Household Equipment and Routine Household Maintenance by 0.3 per cent.

There were also increases in Health by 0.1 per cent; Transport by 2.7 per cent; Recreation and Culture by 1.3 per cent; as well as Restaurants and Hotels by 2.6 per cent.

Declines were registered for Clothing and Footwear by 0.3 per cent and Miscellaneous Goods and Services by 0.1 per cent. Communication and Education remained constant during the period.

Between October 2016 and October 2017, the Index of Retail Prices increased by 6.6 per cent from 172.6 to 184.0 points. The average inflation rate for the 12-month period was 4.0 per cent.

Economic Affairs Division

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