Bahamas Inflation Increase

Rashaed Esson

Staff Writer

#TheBahamas, September 9, 2023 – The monthly inflation rate, the overall change in prices for the June 2023 period increased by 0.1 percent, compared to May 2023. This is according to The Bahamas National Statistical Institute which released its Consumer Price Index.

The release informed that the raise is seen in the overall price of items that the average consumer purchased during the written period.

Under the categories of Transportation, Food and Non-Alcoholic Beverages, the increase was at 3 and 1 percent respectively, that is in comparison to May, as pointed out by the institute.

According to the Consumer Price Index graph as shown in the release, in May, the price under transportation was set at $123.87 and by June it was $127.37.

For Food and Non-Alcoholic Beverages it was $131.52 for May and $121.13 for June.

On the contrary, Alcoholic beverages, tobacco and Narcotics, it said, along with Miscellaneous Goods and Services saw a decrease of 9 percent and 2 percent respectively during June also.

For alcoholic beverages, tobacco narcotics the price stood at $138.97, dropping to $137.71 in June and for miscellaneous goods and services $111.26 to $109.35.

Now, “On a year on year basis, the CPI rose 3 percent over the same period last year in 2022,” the release said, adding that the categories of Recreation and Culture and Alcoholic Beverages contributed to said increase with 21 percent and 10 percent respectively.