NASSAU, BAHAMAS — The Consumer Price Index (CPI) for the month of March saw a four percent increase when compared to the same period in 2022 according to data related by The Bahamas National Statistical Institute.
According to The Bahamas National Statistical Institute, the monthly inflation rate in the Bahamas, which represents the overall change in prices, for 2023 increased in March by 0.4 percent when compared to February 2023. This increase is reflected in the overall price of items purchased by the average consumer during this period.
This March 2023 increase followed a 0.1 percent decrease between the months of January 2023 and February 2023.
The category of Furnishing, Household Equipment saw an increase of 6.5 percent, when compared to the previous month. The Miscellaneous Goods and Services category also recorded an increase of 1.6 percent.
However, over this same period Clothing and Footwear saw a decline of 0.9 percent for the month of March.
“On a year-over-year basis, the CPI rose four percent over the same period last year in 2022. The major categories that contributed to this rise included Recreation and Culture, Alcoholic beverages, along with Food and Non- Alcoholic beverages with increases of 17 percent, 11 percent and eight percent respectively,” the institute noted.