1. The Consumer Price Index, which stood at 109.4 in December 2016, registered a net increase of 4.6 points (or 4.2%) to reach 114.0 in December 2017.
2. The main reasons for the net increase in the CPI during the year 2017 were:
- higher prices for vegetables, traders’ rice, fruits, meat, fish, tea and some other food products;
- higher prices of cigarettes, rum and other cane spirits, and beer and stout;
- higher prices of ready-made clothing;
- higher prices of furniture;
- higher doctors’ fees and clinic charges;
- higher prices of gasolene and diesel;
- higher prices for air tickets;
- higher fees for secondary tuition;
- higher prices for prepared foods;
- higher prices of some other goods and services;
partly offset by
- lower prices of bread;
- lower interest rates on housing loan.
3. The headline inflation rate increased from 1.0% in year 2016 to 3.7% in year 2017.
4. The headline inflation rate excluding 'Alcoholic beverages and tobacco' increased from 0.4% in year 2016 to 2.5% in year 2017.
Ministry of Finance and Economic Development
16 January 2018