September 30, 2022
The Monthly Inflation Rate in the Bahamas, which represents the overall change inprices, saw an increase of 1.5% for July 2022 when compared to June 2022. ThisJuly 2022 increase, rate followed a 0.5% increase between the months of May andJune 2022.
The Consumer Price Index June, 2022 rose 7%, from this same time last year.Consumers paid more in July 2022, for products such as ‘Alcoholic beveragestobacco and narcotics’ as this major group registered an increase 4.8% over thesame period last year.
On a yearly and monthly basis, price increases, were seen within the ‘Recreation andculture’ major group, showing a 23% increase and 17.32 respectively. The ‘Hotel andRestaurant’ category also rose 3.7 month over month, and 17.9 % over this sametime last year, as there was a higher demand for travel accommodation within thiscategory compared to a year earlier.
On a year over year basis, the category of ‘Transport” which includes gasoline, roseat a slower pace, in July than in June 2022. On a monthly basis, gasoline prices wereup 3.2% compared with June 2022.
News date : 09/30/2022 Category : Finance