Today, Minister for the Cabinet Office the Hon. Wayne L. Furbert, JP, MP, released the February 2021 Consumer Price Index (CPI) report.

In February 2021 consumers paid 0.2 % more than they did in February 2020 for the basket of goods and services.

Minister Furbert said, “The health and personal care sector was the largest contributor to the twelve-month increase in the CPI. On average, the cost of health and personal care items increased 2.1 % year-over-year. This rise was attributed to higher health insurance premiums (+2.8 %). The food and education, recreation, entertainment and reading sectors also impacted strongly on the annual rate of inflation, as price shifts in these sectors measured 2.0 % and 1.7 %, respectively. Between January 2021 and February 2021 the average cost of goods and services increased 0.3 percentage points.”

Additional areas of note between January 2021 and February 2021 are as follows:

•   On average, food prices advanced 0.3 % in February. Among the main items contributing to the increase were potato chips (+7.2 %), cantaloupes (+6.7 %), and green peppers (+3.5 %).

•   The transport and foreign travel sector climbed 2.2 % due to increased airfares (+7.4 %) and overseas hotels (+6.8 %). 

•   The education, recreation, entertainment and reading sector increased 0.2 %. The average cost of pleasure boats rose 1.8 %.

•   The tobacco and liquor sector dropped 0.8 %. On average, consumers paid 2.5 %  less for wines.

Lastly, each of us has a role to play in stopping the spread of the coronavirus. Follow Public Health guidelines, wear a mask, practice good hand hygiene, maintain physical distance and download the WeHealth Bermuda app. Do the research, talk with your doctor and make an informed decision about getting the Covid-19 vaccine.

*Note: In summary, each month, the Government measures the annual rate of inflation and the monthly rate of inflation – Annual are changes from same month last year, and monthly are the changes from month to month. The February 2021 Consumer Price Index is available online at www.gov.bm/bermuda-business-statistics.