(Stock Photo)

The Index of Retail Prices for December 2016 stood at 172.6 points, representing a decline of 0.3 per cent when compared to the 173.2 points recorded the previous month.

According to data produced by the Barbados Statistical Service, increases were recorded for Restaurants and Hotels by 2.2 per cent; Transport by 0.6 per cent; Recreation and Culture by 0.4 per cent; and Health by 0.1 per cent.

Declines were registered for Housing, Water, Electricity, Gas and Other Fuels by 3.0 per cent; Alcoholic Beverages, Tobacco and Narcotics by 0.6 per cent; Miscellaneous Goods and Services by 0.4 per cent; Furnishings, Household Equipment and Routine Household Maintenance by 0.1 per cent; and Food and Non-Alcoholic Beverages by 0.04 per cent.

Clothing and Footwear, Communication, and Education remained constant during the period.

Between December 2015 and December 2016, the Index of Retail Prices increased by 3.2 per cent from 167.2 to 172.6 points. The average inflation rate for the period was 1.3 per cent.

Economic Affairs Division

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