CONSUMER PRICE INDEX

JULY 2024

YEAR-OVER-YEAR INFLATION

Consumers paid 1.9 per cent more in July than they did a year ago for the basket of goods and services included in
the Consumer Price Index (CPI). This level of inflation decreased 0.4 percentage points from the June 2024 annual
inflation rate.

FIGURE 1: YEAR-OVER-YEAR PERCENTAGE CHANGE IN ALL ITEMS INDEX

(APRIL 2015 = 100)

4.0

3.9
3.1
Percentage Change (%)

3.0

2.8 2.3 2.3

2.2
2.4 2.4 2.4 2.5 2.5
2.0
1.9 1.9

1.0

0.0
Jul '22- Aug '22- Sept '22- Oct '22- Nov '22- Dec '22- Jan '23- Feb '23- Mar '23- Apr '23- May '23- Jun '23- Jul '23-
Jul ‘23 Aug ‘23 Sept ‘23 Oct ‘23 Nov ‘23 Dec ‘23 Jan ‘24 Feb ‘24 Mar ‘24 Apr ‘24 May ‘24 Jun ‘24 Jul ‘24

In the twelve months to July 2024, the following divisions had significant impacts on the annual percentage change:

FIGURE 2: ANNUAL PERCENTAGE CHANGE, SELECTED DIVISIONS

JULY 2024

4.9
5.0

4.0
Percentage Change (%)

3.3

3.0
2.5
1.9 2.1
2.0
1.7

1.0

0.0
All Items Food Rent Health & Education, Household Goods,
Personal Care Recreation, Services & Supplies
Entertainment
& Reading

1
 BERMUDA CONSUMER PRICE INDEX

YEAR-OVER-YEAR INFLATION

TABLE 1: ANNUAL PERCENTAGE CHANGE, ALL DIVISIONS

July 2023-
Divisions
July 2024

Food increased 6.5 points or 4.9%. +4.9%

Rent increased 2.1 points or 2.1%. +2.1%

Clothing & Footwear increased 5.6 points or 5.1%. +5.1%

Tobacco & Liquor increased 0.5 points or 0.4%. +0.4%

Fuel & Power increased 5.0 points or 4.4%. +4.4%

Household Goods, Services & Supplies increased 1.9 points or 1.7%. +1.7%

Transport & Foreign Travel decreased 5.1 points or 4.4%. -4.4%

Education, Recreation, Entertainment & Reading increased 3.0 points or 2.5%. +2.5%

Health & Personal Care increased 4.1 points or 3.3%. +3.3%

2
 BERMUDA CONSUMER PRICE INDEX

TEN-YEAR INFLATION TRENDS

Over the past decade, the annual rate of inflation exhibited significant variability, reaching a ten-year low of -1.4 per cent in
July 2020 and peaking at 5.1 per cent in September 2022.

FIGURE 3: ANNUAL RATES OF INFLATION - YEAR-OVER-YEAR PERCENTAGE CHANGE, JULY 2014 - JULY 2024

(APRIL 2015 = 100)

6.0
Percentage Change (%)

4.0

2.0

0.0

-2.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

The annual average percentage change for the period 2014 - 2023 shows a positive growth trend in price change, peaking in
2022 at an average 4.0 per cent.

FIGURE 4: ANNUAL AVERAGE PERCENTAGE CHANGE, 2014 - 2023

(APRIL 2015 = 100)

4.0
4.0

3.3

3.0
Percentage Change (%)

2.0
2.0
1.5 1.5 1.9 1.4 1.5

1.0
1.0

Nil

0.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

3
 BERMUDA CONSUMER PRICE INDEX

During the last ten years, the year-over-year percentage change in food prices exhibited the most prominent fluctuation
between 2022 and 2024, reaching a high of 10.6 per cent in September 2022.

FIGURE 5: ANNUAL RATES OF INFLATION - YEAR-OVER-YEAR PERCENTAGE CHANGE, JULY 2014 - JULY 2024
FOOD DIVISION

(APRIL 2015 = 100)

12.0

10.0
Percentage Change (%)

8.0

6.0

4.0

2.0

0.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

The annual average percentage change for the period 2014 - 2023 shows a positive growth trend in the price change of
food, peaking in 2022 at an average 7.9 per cent.

FIGURE 6: ANNUAL AVERAGE PERCENT CHANGE, FOOD DIVISION, 2014 - 2023

(APRIL 2015 = 100)

7.9
8.0

6.5
Percentage Change (%)

6.0

4.0
3.1 3.0
2.7 2.7
2.2 2.1
2.0
1.9 1.9

0.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

4
 BERMUDA CONSUMER PRICE INDEX

MONTH-OVER-MONTH INFLATION

Between June 2024 and July 2024, the average cost of goods and services in the CPI increased 0.1 per cent. The all-items
index rose from 117.8 to 117.9. This means that the basket of goods and services that cost $100.00 in April 2015 now costs
$117.90.

FIGURE 7: MONTH-OVER-MONTH PERCENTAGE CHANGE IN ALL ITEMS INDEX

(APRIL 2015 = 100)

0.8 0.8
0.8
Percentage Change (%)

0.6
0.5
0.4 0.4
0.4

0.2
0.1 0.1 0.1

0.1 0.1
0.0

-0.2
-0.2
-0.3
-0.4

-0.5
-0.6
Jun '23- Jul '23- Aug '23- Sept '23- Oct '23- Nov '23- Dec '23- Jan '24- Feb '24- Mar '24- Apr '24- May '24- Jun '24-
Jul ‘23 Aug ‘23 Sept ‘23 Oct ‘23 Nov ‘23 Dec ‘23 Jan ‘24 Feb ‘24 Mar ‘24 Apr ‘24 May ‘24 Jun ‘24 Jul ‘24

The following divisions had significant impacts on the monthly percentage change:

FIGURE 8: MONTHLY PERCENTAGE CHANGE, SELECTED DIVISIONS

JULY 2024

1.0
1.0

0.8
Percentage Change (%)

0.7

0.6
0.5

0.4

0.2
0.2
0.1

Nil
0.0
All Items Food Fuel & Power Rent Clothing & Health &
Footwear Personal Care

5
 BERMUDA CONSUMER PRICE INDEX

MONTH-OVER-MONTH INFLATION

TABLE 2: MONTHLY PERCENTAGE CHANGE, ALL DIVISIONS

TABLE 2: MONTHLY PERCENTAGE CHANGE FOR ALL DIVISIONS

June 2024-
Divisions
July 2024

Food increased 0.7 points or 0.5%. +0.5%

Rent increased 0.2 points or 0.2%. +0.2%

Clothing & Footwear increased 0.8 points or 0.7%. +0.7%

Tobacco & Liquor decreased 0.3 points or 0.2%. -0.2%

Fuel & Power increased 1.2 points or 1.0%. +1.0%

Household Goods, Services & Supplies decreased 0.1 points or 0.1%. -0.1%

Transport & Foreign Travel decreased 0.7 points or 0.6%. -0.6%

Education, Recreation, Entertainment & Reading decreased 0.2 points or 0.2%. -0.2%

Health & Personal Care was unchanged. Nil

6
 BERMUDA CONSUMER PRICE INDEX

TEN-YEAR INFLATION TRENDS

From July 2014 to July 2024, the month-over-month percentage change fluctuated within a range of -0.9 per cent to 1.2 per
cent.

FIGURE 9: MONTHLY RATES OF INFLATION - MONTH-OVER-MONTH PERCENTAGE CHANGE, JULY 2014 - JULY 2024

(APRIL 2015 = 100)

1.5
Percentage Change (%)

1.0

0.5

0.0

-0.5

-1.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

The month-over-month movement in the CPI Gasoline Index is as follows:

FIGURE 10: MONTH-OVER-MONTH GASOLINE INDEX, APRIL 2014 - JULY 2024

(APRIL 2015 = 100)

130.0

125.0

120.0
Index

115.0

110.0

105.0

100.0

95.0

90.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

7
 BERMUDA CONSUMER PRICE INDEX

The monthly inflation rates for the food division from July 2014 to July 2024 show significant fluctuation, with notable
changes occurring in January 2017, when the inflation rate surged 3.3 percentage points, and in April 2017, when it
experienced a sharp decline of 1.5 percentage points.

FIGURE 11: MONTHLY RATE OF INFLATION, FOOD DIVISION, JULY 2014 - JULY 2024

(APRIL 2015 = 100)

2.0

1.5
Percentage Change (%)

1.0

0.5

0.0

-0.5

-1.0

-1.5
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Selected sub-groups within the food division have the following trends of month-over-month percentage change:

FIGURE 12: MONTH-OVER-MONTH PERCENTAGE CHANGE, SELECTED FOOD SUBGROUPS

(APRIL 2015 = 100)

Bakery Products Meats & Meat Products Dairy Products & Eggs

6.0

4.0
Percentage Change (%)

2.0

0.0

-2.0

-4.0

-6.0
Jun '23- Jul '23- Aug '23- Sept '23- Oct '23- Nov '23- Dec '23- Jan '24- Feb '24- Mar '24- Apr '24- May '24- Jun '24-
Jul ‘23 Aug ‘23 Sept ‘23 Oct ‘23 Nov ‘23 Dec ‘23 Jan ‘24 Feb ‘24 Mar ‘24 Apr ‘24 May ‘24 Jun ‘24 Jul ‘24

8
 BERMUDA CONSUMER PRICE INDEX

APRIL 2015 = 100

Household Education,
Goods, Transport Recreation, Health &
Clothing Tobacco Fuel Services & & Foreign Entertain. & Personal
All Items Food Rent & Footwear & Liquor & Power Supplies Travel Reading Care

2013
1,000 115 267 25 31 39 116 130 147 130
WEIGHT
ANNUAL AVERAGE PERCENTAGE CHANGE
2019 +1.0 +2.7 +0.9 +1.9 +3.8 +1.0 Nil -3.0 +0.4 +3.4
2020 Nil +3.0 -1.8 +0.9 +2.4 -1.8 +0.3 -4.5 +1.1 +2.9
2021 +1.5 +1.9 -0.3 +0.9 -0.6 -5.0 +1.7 +6.3 +1.9 +2.3
2022 +4.0 +7.9 +0.3 +2.2 +0.5 +11.3 +2.9 +7.6 +4.4 +4.0
2023 +3.3 +6.5 +1.9 +1.1 +4.9 +0.2 +2.6 +4.8 +3.5 +2.7

MONTHLY PERCENTAGE CHANGE

2023
Jul +0.4 +0.2 +0.2 -0.1 -0.3 +2.9 +0.2 +2.0 Nil -0.1
Aug -0.2 +0.7 +0.2 Nil +0.4 Nil Nil -2.1 +0.1 Nil
Sept +0.5 +0.2 +0.4 Nil +0.4 Nil +0.1 +1.3 +1.1 Nil
Oct +0.8 +0.4 +0.1 +0.5 -0.2 +10.0 +0.1 +1.9 +0.5 +0.2
Nov -0.3 +0.1 +0.1 Nil -0.8 Nil +0.2 -3.3 Nil Nil
Dec -0.5 -0.2 +0.5 Nil -0.2 Nil +0.6 -5.1 -0.2 +0.2

2024
Jan +0.4 +0.7 +0.1 +2.5 Nil -6.7 +0.4 +3.4 +0.2 +0.1
Feb +0.1 +0.7 +0.1 Nil +0.3 Nil +0.5 -0.8 Nil Nil
Mar +0.1 Nil +0.1 Nil +0.6 Nil Nil -0.3 +0.6 +0.1
Apr +0.8 +0.3 Nil +1.3 +0.2 +0.7 -0.3 +2.7 +0.1 +2.7
May +0.1 +0.1 +0.1 Nil -0.2 Nil Nil -0.2 +0.3 +0.1
Jun +0.1 +1.4 +0.2 Nil +0.2 Nil +0.1 -1.2 Nil Nil
Jul +0.1 +0.5 +0.2 +0.7 -0.2 +1.0 -0.1 -0.6 -0.2 Nil

MONTHLY INDEX

2023
Jul 115.7 132.2 102.4 110.4 132.3 113.2 111.0 114.8 120.6 125.6
Aug 115.5 133.1 102.6 110.4 132.8 113.2 111.0 112.4 120.7 125.6
Sept 116.1 133.4 103.0 110.4 133.3 113.2 111.1 113.9 122.0 125.6
Oct 117.0 133.9 103.1 110.9 133.0 124.5 111.2 116.1 122.6 125.8
Nov 116.6 134.0 103.2 110.9 131.9 124.5 111.4 112.3 122.6 125.8
Dec 116.0 133.7 103.7 110.9 131.6 124.5 112.1 106.6 122.4 126.0

2024
Jan 116.5 134.7 103.8 113.7 131.6 116.2 112.6 110.2 122.6 126.1
Feb 116.6 135.6 103.9 113.7 132.0 116.2 113.2 109.3 122.6 126.1
Mar 116.7 135.6 104.0 113.7 132.8 116.2 113.2 109.0 123.3 126.2
Apr 117.6 136.0 104.0 115.2 133.1 117.0 112.9 111.9 123.4 129.6
May 117.7 136.1 104.1 115.2 132.8 117.0 112.9 111.7 123.8 129.7
Jun 117.8 138.0 104.3 115.2 133.1 117.0 113.0 110.4 123.8 129.7
Jul 117.9 138.7 104.5 116.0 132.8 118.2 112.9 109.7 123.6 129.7

ANNUAL PERCENTAGE CHANGE

Jul ‘24
+1.9 +4.9 +2.1 +5.1 +0.4 +4.4 +1.7 -4.4 +2.5 +3.3
Jul ‘23

9
 BERMUDA CONSUMER PRICE INDEX

CONSUMER PRICE INDICES AND INFLATION BY DIVISIONS AND GROUPS - JULY 2024

INDEX NUMBER PERCENTAGE CHANGE

Weight Jul ‘23 Jun ‘24 Jul ‘24 1 month ago 1 year ago

All Items 1,000 115.7 117.8 117.9 +0.1 +1.9

Food 115 132.2 138.0 138.7 +0.5 +4.9

Bakery Products 115.4 117.8 118.5 +0.6 +2.7
Cereal Products 139.4 127.3 124.9 -1.9 -10.4
Flours & Pastas 131.3 136.5 137.0 +0.4 +4.3
Meats & Meat Products 127.8 131.2 130.5 -0.5 +2.1
Poultry 117.9 120.4 120.9 +0.4 +2.5
Fish 117.1 125.4 126.6 +1.0 +8.1
Dairy Products & Eggs 123.6 125.8 128.1 +1.8 +3.6
Fats & Oils 149.2 146.3 146.7 +0.3 -1.7
Fruit & Fruit Juices 139.5 146.6 148.0 +1.0 +6.1
Vegetables 117.6 128.9 134.0 +4.0 +13.9
Sugar & Sugar Confectionary 133.0 140.1 140.3 +0.1 +5.5
Savoury Snacks 114.6 119.4 120.0 +0.5 +4.7
Baby Food 123.6 118.7 120.5 +1.5 -2.5
Frozen Entrees 130.4 134.1 134.1 Nil +2.8
All Other Food Products (Not Elsewhere Specified) 124.9 129.5 131.7 +1.7 +5.4
Tea, Coffee, and Cocoa 103.8 116.0 114.9 -0.9 +10.7
Mineral Waters, Soft Drinks and Powered Drink Mixes 111.5 127.9 127.1 -0.6 +14.0

Rent 267 102.4 104.3 104.5 +0.2 +2.1

Controlled Properties 109.9 111.7 112.0 +0.3 +1.9
Non-controlled Properties 94.4 96.0 96.2 +0.2 +1.9
Repair & Maintenance 105.0 107.2 107.2 Nil +2.1

Clothing & Footwear 25 110.4 115.2 116.0 +0.7 +5.1

Men’s Clothing 116.8 120.7 120.7 Nil +3.3
Women’s Clothing 97.1 107.1 107.1 Nil +10.3
Children’s Clothing 99.1 92.8 92.8 Nil -6.4
Infant’s Clothing 98.3 123.8 123.8 Nil +25.9
Clothing Accessories 128.9 130.9 137.4 +5.0 +6.6
Men’s Footwear 116.0 116.0 116.0 Nil Nil
Women’s Footwear 123.5 126.4 126.4 Nil +2.3
Children’s Footwear 122.7 122.7 122.7 Nil Nil
Other Clothing, Clothes Care & Shoe Repairs 121.8 125.7 130.5 +3.8 +7.1

Tobacco & Liquor 31 132.3 133.1 132.8 -0.2 +0.4

Beer 119.1 121.1 120.7 -0.3 +1.3
Wines 131.2 131.2 131.6 +0.3 +0.3
Spirits 134.3 135.7 134.0 -1.3 -0.2
Cigarettes 144.1 144.1 144.1 Nil Nil

10
 BERMUDA CONSUMER PRICE INDEX

CONSUMER PRICE INDICES AND INFLATION BY DIVISIONS AND GROUPS - JULY 2024

INDEX NUMBER PERCENTAGE CHANGE

Weight Jul ‘23 Jun ‘24 Jul ‘24 1 month ago 1 year ago

Fuel & Power 39 113.2 117.0 118.2 +1.0 +4.4

Electricity 113.1 117.0 118.2 +1.0 +4.5
Propane & Heating Fuel 117.0 117.0 117.0 Nil Nil

Household Goods, Services & Supplies 116 111.0 113.0 112.9 -0.1 +1.7
Furniture, Furnishings & Textiles 128.7 125.9 125.9 Nil -2.2
Major Appliances 109.3 120.0 120.0 Nil +9.8
Minor Appliances 119.3 141.2 141.2 Nil +18.4
Communications Equipment 112.5 111.0 111.0 Nil -1.3
Childcare 120.9 121.4 121.4 Nil +0.4
Telephone, Mobile and Internet Services 102.4 105.0 105.0 Nil +2.5
Other Household Services (Not Elsewhere Specified) 108.0 109.5 109.2 -0.3 +1.1
Household Supplies 133.7 138.1 137.8 -0.2 +3.1

Transport & Foreign Travel 130 114.8 110.4 109.7 -0.6 -4.4
Cars Capital Cost 103.9 106.9 107.0 +0.1 +3.0
Car Fuel 125.9 125.9 124.3 -1.3 -1.3
Car Repair & Maintenance 109.3 109.3 109.3 Nil Nil
Other Car Costs 102.2 105.5 105.5 Nil +3.2
Cycle Capital Cost 98.2 94.4 94.4 Nil -3.9
Cycle Fuel 129.2 130.1 128.5 -1.2 -0.5
Cycle Repair & Maintenance 98.4 98.4 98.4 Nil Nil
Other Cycle Costs 108.7 112.1 112.1 Nil +3.1
Public Transportation 100.0 109.0 109.0 Nil +9.0
Foreign Travel 114.9 101.1 100.4 -0.7 -12.6

Education, Recreation, Entertainment & Reading 147 120.6 123.8 123.6 -0.2 +2.5
Education Expenses 118.2 122.6 122.6 Nil +3.7
Recreational Services 111.9 117.9 117.9 Nil +5.4
Recreational Equipment 116.9 119.1 118.6 -0.4 +1.5
Entertainment Equipment 111.7 112.2 112.2 Nil +0.4
Reading Materials 176.3 177.1 177.1 Nil +0.5
Online Entertainment Services 88.2 88.2 88.2 Nil Nil

Health & Personal Care 130 125.6 129.7 129.7 Nil +3.3
Health Insurance 131.9 136.5 136.5 Nil +3.5
Doctor & Hospital Visits 121.9 121.9 121.9 Nil Nil
Dental Care 105.1 109.4 109.4 Nil +4.1
Vision Care 102.5 100.8 100.8 Nil -1.7
Medical Supplies 117.2 120.9 120.9 Nil +3.2
Personal Care Supplies & Services 103.7 107.4 107.7 +0.3 +3.9

11
 BERMUDA CONSUMER PRICE INDEX

AVERAGE PRICES OF SELECTED ITEMS - JULY 2024

AVERAGE PRICES

Item Quantity Jul ‘23 Jun ‘24 Jul ‘24

Whole Wheat Bread 20 oz 7.79 7.75 7.84

Corn Flakes 12 oz 10.30 8.67 8.20
Converted Rice 5 lb bag 12.89 10.70 10.70
All Purpose Flour 5 lb 6.89 7.36 7.05

Spare Ribs (Pork) per lb 5.75 6.15 6.35

Lamb Leg (Frozen) per lb 10.17 9.82 9.82

Red Snapper per lb 22.06 18.99 18.99

Tuna Fish - Canned 7 oz 4.47 4.37 4.37

Evaporated Tin Milk 12 fl oz 2.33 2.66 2.64

Cheddar Cheese Block per lb 8.65 8.30 8.45
Eggs - Local & Imported per dozen 5.87 6.08 6.21
Cooking Oil 32 fl oz 11.40 9.97 9.97

Apples 3 lb bag 9.15 8.65 8.90

Red Grapes (Seedless) per lb 5.99 6.99 6.99
Tomatoes (Vine and Plum) - Imported per lb 4.57 5.48 5.50

Lettuce - Iceberg per head 5.65 6.64 6.49

Green Peppers per lb 3.94 4.47 4.27

Icing Sugar 2 lb 6.90 7.39 7.39

Strawberry Jam 12 oz jar 4.85 5.09 5.09
Snickers 2.07 oz bar 2.36 2.75 2.75

Tea bags pack of 50 5.86 6.99 6.85

Instant Coffee 8 oz 12.21 13.42 13.42

Beer (bottle) per case 60.94 61.17 60.94

Rum 1 Litre 35.30 36.11 36.20
Cigarettes - Regular Carton 160.34 160.34 160.34

Furniture Polish 12.5 oz 9.49 9.84 9.99

Antiseptic Disinfectant Liquid 500 ml 7.97 7.83 7.81

Men’s Long Dress Pants Average 65.32 67.70 67.70

Men’s Underwear Average 26.24 27.24 27.24

12
 BERMUDA CONSUMER PRICE INDEX

MONTHLY SUMMARY STATISTICS

Period Index Annual Percent Change

2023
Jul 115.7 +2.8
Aug 115.5 +2.4
Sept 116.1 +2.4
Oct 117.0 +3.9
Nov 116.6 +3.1
Dec 116.0 +2.4

2024
Jan 116.5 +2.5
Feb 116.6 +2.5
Mar 116.7 +1.9
Apr 117.6 +2.2
May 117.7 +2.3
Jun 117.8 +2.3
Jul 117.9 +1.9

COMPUTING PRICE INCREASES

The Department of Statistics receives calls daily requesting the rate of inflation over specific periods of time. The following
calculations are provided to guide users as to how to compute rates of price increases. The monthly index numbers can be
obtained from our website: https://www.gov.bm/bermuda-business-statistics.

Month-to-Month Price Change Year-to-Year Price Change Particular Period Price Change

The price change between February The price change between March The price change between February
2022 and January 2022 is calculated 2022 and March 2021 is calculated 2022 and March 2020 is calculated
as follows: as follows: as follows:

Feb 22 index - Jan 22 index Mar 22 index - Mar 21 index Feb 22 index - Mar 20 index
= x 100 = x 100 = x 100
Jan 22 index Mar 21 index Mar 20 index

109.0 - 108.6 109.4 - 106.7 109.0 - 105.9

= x 100 = x 100 = x 100
108.6 106.7 105.9

= 2.5% = 2.9%
= 0.4%

13
 BERMUDA CONSUMER PRICE INDEX

WHAT IS THE CONSUMER PRICE INFLATION

INDEX? Inflation is the process of rising prices, resulting in

diminishing purchasing power of a given sum of money.
The CPI is a statistical tool used for measuring changes in
the general level of prices of consumer goods and services LASPEYRES EQUATION
purchased by private households.
The CPI is computed using this statistical equation. This
The index measures price movements of a given quality formula calculates the total amount of money a household
and quantity of goods and services. The mix of these needs today to purchase the same basket of goods and
consumer goods and services comprising the index, is services that it bought in the base period, April 2015.
figuratively thought of as a “shopping basket.” In
constructing this “shopping basket”, the selected goods and PRICE INDEX NUMBER
services are organized first by commodity type. They are A single figure that shows how a set of prices has changed
then divided into sub-components and assigned to a major over a specified period. An index number alone means
expenditure group. The Bermuda CPI is structured into nine nothing. It must be compared with an index number from
expenditure groups or sectors: another period to have meaning. For example, a
comparison of the index number 97.2 for January 2014 with
Food 100.4 for January 2016, reveals that prices have increased
Rent by 3.3 per cent.
Clothing & Footwear
WEIGHTED AVERAGE
Tobacco & Liquor
Fuel & Power A mathematical formula that takes into account the relative
Transport & Foreign Travel importance of an item’s price change compared to the
overall change in the sector or CPI.
Household Goods, Services & Supplies
Education, Recreation, Entertainment & Reading
Health & Personal Care

October 2024
CONCEPTS AND DEFINITIONS
Department of Statistics
BASE PERIOD Cedar Park Centre,
48 Cedar Avenue, Hamilton HM 11
The period used as a reference point for measuring the
price change of goods and services. The base period for P.O. Box HM 3015
the Bermuda CPI is April 2015. Hamilton HM MX, Bermuda

COST OF LIVING INDEX Tel: (441) 297-7761, Fax: (441) 295-8390

Website: https://www.gov.bm/department/statistics
Many individuals refer to the CPI as a cost-of-living index.
The CPI is an index of pure price change only. A cost-of-
living index reflects the changes in buying or consumption @BERMUDASTATS
patterns that consumers would ordinarily make to adjust to
any change in the price of a good or service.

14