The Bahamas National Statistical Institute is pleased to announce the release of its ConsumerPrice index, December 2022.

The Monthly Inflation Rate in the Bahamas, which represents the overall change in prices, forDecember 2022 decreased by 0.4% when compared to November 2022. This decrease is reflectedin the overall price of items purchased by the average consumer during this period. This December2022 decrease followed a 0.1% decrease between the months of October and November 2022.

The Transportation category saw a decline in December 2022 of 11%, when compared to theprevious month. Furniture and Household also recorded a decline of 0.6%. However, over thissame period Recreation and Culture along with Miscellaneous Goods and Services saw increasesof 3% each for the month of December.

On a year over year basis, the CPI rose 6% over the same period last year in 2021. The majorcategories that contributed to this rise included, Recreation, Food and Non-Alcoholic beveragesand Restaurant and Hotels with increases of 21%, 16 % and 13% respectively.

Diesel prices were up 27%, and gasoline rose 7% compared to the period in 2021. However, compared to November 2022, diesel prices dropped 0.5%, while gasoline prices declined by 0.4% for the month of December 2022.