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Based on data produced by the Barbados Statistical Service, the Index of Retail Prices for October 2016 stood at 171.2 points. This represented a decline of 1.0 per cent when compared to the 172.9 points recorded in September 2016.

Increases were recorded for food and non-alcoholic beverages by 1.1 per cent; alcoholic beverages, tobacco and narcotics by 0.9 per cent; and transport by 0.4 per cent.

Declines were registered for housing, water, electricity, gas and other fuels by 5.6 per cent; recreation and culture by 4.4 per cent, miscellaneous goods and services by 3.7 per cent; and restaurants and hotels by 2.1 per cent.

Declines were also registered for furnishings, household equipment and routine household maintenance by 1.9 per cent; health and education by 1.3 per cent; and clothing and footwear by 0.7 per cent. Communication remained constant during the period.

Between October 2015 and October 2016, the Index of Retail Prices increased by 2.0 per cent from 167.9 points to 171.2 points. The average inflation rate for the 12-month period was minus 0.5 per cent.

Economic Affairs Division

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