(Stock Photo)

The Index of Retail Prices for August 2016 stood at 172.9 points, representing a decline of 0.3 per cent when compared to the 173.5 points recorded the previous month.

According to data produced by the Barbados Statistical Service, decreases were recorded for Transport by 2.9 per cent; Restaurants and Hotels by 1.3 per cent; Recreation and Culture by 1.2 per cent; Housing, Water, Electricity, Gas and Other Fuels by 1.0 per cent; Alcoholic Beverages, Tobacco and Narcotics, as well as Miscellaneous Goods and Services, by 0.2 per cent; and Furnishings, Household Equipment and Routine Household Maintenance by 0.1 per cent.

Increases were registered for Clothing and Footwear by 2.6 per cent; and Food and Non-Alcoholic Beverages by 0.6 per cent. Health, Communication and Education remained constant during the period.

Between August 2015 and August 2016, the Index of Retail Prices increased by 2.4 per cent, from 168.8 to 172.9 points. The average inflation rate for that period was 0.3 per cent.

Economic Affairs Division

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