Tag: consumer price index

Inflation rate at odds with real life experience

Inflation rate at odds with real life experience

| 22/05/2024 | 47 Comments

(CNS): The first quarter inflation rate for 2024 was 1.5% above the rate for the first three months of 2023 and around 0.3% higher than the rate at the end of the year, according to the Economics and Statistics Office. But with inflation running so high in the Cayman Islands over the last three years, […]

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Inflation begins to slow but averaged 3.8% in 2023

Inflation begins to slow but averaged 3.8% in 2023

| 14/03/2024 | 28 Comments

(CNS): The cost of living rose by an average of 3.8% last year compared with 2022, the Economics and Statistics Office confirmed after releasing its Consumer Price Index Report for 2023 this week. While inflation slowed last year, particularly during the last quarter, the rise in the CPI followed the 9.5% average increase during the […]

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Inflation slowing down but prices still climbing

Inflation slowing down but prices still climbing

| 16/10/2023 | 48 Comments

(CNS): The price of food, rent, utilities and clothes all increased during the second quarter of this year. The local inflation rate is still rising, even though it has slowed down to 4.1% from its peak of over 12% in the summer of 2022. The Consumer Price Index (CPI) between March and June was 130.4, […]

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Inflation soars to record level of over 12%

Inflation soars to record level of over 12%

| 03/08/2022 | 99 Comments

(CNS): The consumer price index (CPI) increased by 12.1% in the second quarter of 2022 when compared to the same period in 2021, according to a release from the Economics and Statistics Office. The CPI was also up by 2.2% on the already recording-breaking levels of inflation for the first quarter of 2022.

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Inflation running at record high of 11.2%

Inflation running at record high of 11.2%

| 08/06/2022 | 156 Comments

(CNS): The Consumer Price Index (CPI) increased by 11.2% in the first quarter of this year when compared to the same period in 2021. All twelve CPI divisions recorded increases in average prices, with housing and utilities increasing by more than 20% and fuel by over 29% over the last 12 months. While residents of […]

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Cost of living pain reflected in ESO report

Cost of living pain reflected in ESO report

| 30/03/2022 | 88 Comments

(CNS): The Economics and Statistics Office has released the cost of living statistics for 2021, which reflects the pain that everyone has been feeling with the soaring cost of living. While the average annual Consumer Price Index (CPI) rose by 3.3% across the whole year compared to 2021, that disguises the much greater impact inflation […]

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Utilities fuel soaring cost of living

Utilities fuel soaring cost of living

| 20/12/2021 | 97 Comments

(CNS): The Consumer Price Index (CPI) increased by 6.4% in the third quarter of 2021 compared to the same period last year as all twelve of the divisions assessed to measure inflation in the economy recorded increased prices. The new report from the Economics and Statistics Office also shows a spike from the 0.2% rise […]

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Inflation falls but people feeling price pain

Inflation falls but people feeling price pain

| 10/08/2021 | 63 Comments

(CNS): The Consumer Price Index (CPI) fell by 1% in the first quarter of 2021 against the same three months in 2020, and while three of the twelve CPI divisions that are used to calculated inflation decreased, most people did not feel a drop in the cost of living this spring and continue to navigate […]

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Inflation one of several threats on horizon

Inflation one of several threats on horizon

| 15/07/2021 | 120 Comments

(CNS): In his address to Parliament on Wednesday on the PACT Government’s first strategic policy statement, Finance Minister Chris Saunders painted a relatively optimistic picture of figures for public finances and the economic recovery from the COVID-19 fallout. But he also noted some threats on the horizon, not least the problem of inflation. Caymanians are […]

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Inflation undermining economic success

Inflation undermining economic success

| 11/02/2019 | 37 Comments

(CNS): The good news that government has been promoting over the last few years, that the economy is growing and the public is benefiting from this improvement in the Cayman Islands’ domestic fortunes, is now being challenged by persistent levels of inflation, which is eating away at the limited disposal income of many people. In […]

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Local inflation increases by more than 3%

Local inflation increases by more than 3%

| 02/08/2018 | 53 Comments

(CNS): New figures from the Economics and Statistics Office show a worrying trend for Cayman, with inflation growing by 3.2% in the first quarter of 2018. Although the country saw what officials described as “robust growth” through 2017, with the gross domestic product rising by 2.9%, the inflation level is impacting the man on the […]

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