NASSAU, BAHAMAS: Bahamian consumers were paying substantially more for fuel, transportation and dining in July than a year earlier, with newly released figures showing diesel costs surged 33.4 percent, gasoline climbed 21.4 percent and restaurant and hotel prices jumped 15.7 percent year-over-year.
The Bahamas National Statistical Institute’s (BNSI) Consumer Price Index (CPI) report, released October 2, showed overall consumer prices were 3.6 percent higher in July compared with the same month in 2025, despite a slight decline from June.
Restaurants and hotels recorded the largest year-over-year increase among the major CPI categories at 15.7 percent, followed by transport at 12.9 percent and furnishing, household equipment and routine household maintenance at 3.4 percent.
Recreation was the notable exception, declining 1.9 percent compared with July 2025.
The fuel figures showed even sharper increases compared with a year earlier.
Diesel prices were 33.4 percent higher in July than in the same month last year, while gasoline prices increased 21.4 percent.
The increases came despite both fuel categories recording declines from June, with diesel prices falling 6.8 percent month-over-month and gasoline declining 3.2 percent.
BNSI’s figures showed the average price of gasoline stood at $6.75 in July, compared with $5.56 in July 2025.
The average diesel price stood at $6.63, compared with $4.97 a year earlier.
The data also showed how sharply fuel prices had risen during the second quarter of the year.
The average gasoline price stood at $5.14 in January before increasing to $5.23 in February and $5.51 in March. It then jumped to $6.63 in April, $6.83 in May and $6.97 in June before retreating to $6.75 in July.
Diesel followed a similar trajectory, moving from $4.90 in January to $4.85 in February and $5.16 in March before climbing to $7.04 in April. It reached $7.15 in May and $7.11 in June before falling to $6.63 in July.
The wider inflation picture, however, showed some moderation by July.
Consumer prices declined 0.1 percent between June and July, according to BNSI, following another 0.1 percent decrease between May and June.
On a month-to-month basis, furnishing, household equipment and routine household maintenance recorded the largest decline at 2.3 percent.
Restaurants and hotels declined 1.4 percent, while transport costs fell 1.0 percent.
Alcoholic beverages, tobacco and narcotics recorded the largest increase during the month at 3.3 percent, while BNSI said all other major groups were unchanged compared with June.
The figures also show annual inflation had begun retreating from its highest level recorded during the first seven months of 2026.
Year-over-year inflation stood at 2.1 percent in January before increasing to 2.7 percent in February, 3.1 percent in March and 3.8 percent in April.
It accelerated to 4.5 percent in May before easing to 4.3 percent in June and 3.6 percent in July.
The All Items CPI stood at 127.27 in July, down marginally from 127.35 in June and 127.50 in May. The index stood at 122.80 in July 2025.
The CPI measures changes in the average prices of goods and services purchased by households over time.
While the July figures therefore showed some easing in inflation on both a monthly basis and from May’s year-over-year peak, the newly released data underscores the significantly higher costs consumers faced in key areas compared with a year earlier, particularly fuel, transportation, restaurants and hotels.
