Tag: inflation
Inflation climbed to 2.9% at end of 2024
(CNS): The cost of living is a major issue on the campaign trail, and candidates across the board are offering up a variety of solutions, such as sourcing food outside the United States and greening the economy to cut down on fuel and electricity. But it’s unlikely there are any quick fixes to the problem. […]
Inflation report reflects last year’s cost of living pain
(CNS): The Economics and Statistics Office has released the inflation report for the third quarter of 2024, which revealed that the economic pressure Cayman Islands residents were feeling last year continues to be one of the biggest problems the next government will need to tackle. At the end of September, after several years of constantly […]
Inflation rate at odds with real life experience
(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, […]
Inflation begins to slow but averaged 3.8% in 2023
(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 […]
Inflation slowing down but prices still climbing
(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, […]
Inflation soars to record level of over 12%
(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.
Government promotes support as COL crisis worsens
(CNS): Caymanians are being warned that it could be some time before there will be any easing of the global cost of living crisis that is having a dramatic effect locally. With escalating prices and the challenge that creates for ordinary people, the Cayman Islands Government has launched a national campaign to raise awareness of […]
McTaggart: PACT should give surplus back to people
(CNS): The rising price of goods has increased the Cayman Islands Government’s revenue and it “cannot be right” that the CIG benefits from inflation “while the people suffer”, Opposition Leader Roy McTaggart said in the latest PPM video, and he called on PACT to give back the surplus by funding more relief measures. Following the […]
McTaggart: Gov’t has room to cut all fuel duty
(CNS): Opposition Leader Roy McTaggart said the Cayman Islands Government should cut duty on fuel to zero, removing the 75 cents tax it adds to each gallon at the pump and the 25 cents it charges CUC, until the end of the year to help people deal with the soaring cost of living. Speaking Tuesday […]
Non-exec civil servants to get 4.5% COLA by year-end
(CNS): Civil servants on Grade E and below on the salary scale can look forward to three special payments of $150, which they will receive this month and in July and August, to help them navigate the increasing cost of living. This precedes a 2% increase in pay that will be rolled out across the […]
Cost of living pain reflected in ESO report
(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 […]
