Today, the Ministry of Economy and Labour released the Department of Statistics' August 2024 Consumer Price Index (attached).

"In summary, consumers paid 2.3 per cent more in August 2024 than a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. This level of inflation increased 0.4 percentage points from the July 2024 annual inflation rate. Some highlights for August 2023 to August 2024 include:

• The Health & Personal Care division increased 3.3 per cent.
• The Rent division increased 1.9 per cent.
• The Food division increased 3.5 per cent.
• The Education, Recreation, Entertainment & Reading division increased 2.5 per cent.
• The Fuel & Power division rose 7.2 per cent.

Between July 2024 and August 2024, the average cost of goods and services increased 

0.2 per cent. Additional areas of note between July 2024 and August 2024 were as follows: 

• The Transport & Foreign Travel division increased 1.4 per cent.
• The Fuel & Power division rose 2.7 per cent.
• The Education, Recreation, Entertainment & Reading division increased 0.1 per cent.
• The Tobacco & Liquor division increased 0.5 per cent.

*Note: In summary, the Government measures the annual and monthly inflation rates. Annual changes are from the same month last year, and monthly changes are from month to month. The August 2024 Consumer Price Index is available online at www.gov.bm/bermuda-business-statistics.