Tag: inflation
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 […]
Utilities fuel soaring cost of living
(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 […]
Inflation continued to plague Cayman through COVID
(CNS): According to the Economics and Statistics Office’s third quarter report, the gross domestic product fell by around 8.2% in the Cayman Islands but Caymanians were still facing inflationary pressure from price increases. Available indicators show that the challenges the Cayman Islands faced at the end of last year, nine months after COVID-19 arrived here […]
Inflation falling but food prices increase
(CNS): The overall cost of living fell by 1.6% in the third quarter of 2020 compared to 2019, but that doesn’t mean Cayman Islands residents are seeing prices come down in general, despite the economic challenges of COVID-19. While costs have declined in some sectors, when it comes to food and telephone costs, shoppers are […]
