Prices Still Trending Upwards

Prices Still Trending Upwards

Latest figures from the Barbados Statistical Service show prices still trending upward overall.

The Index of Retail Prices for February 2023 increased by one percent  over January, while the increase in February this year was 6.6 percent compared to February last year.

The Retail Price Index is a measure of changes in the general level of retail prices of a fixed “basket” of goods and services purchased by the average household.

Miscellaneous Goods and Services rose 4.4 percent in February over January and were up by 7 percent over February last year.

Recreation and Culture rose 2.9 percent in February over January and by 8 percent over the index for February 2022.

Transport recorded an upturn in February 2023 of 2.4 against the January 2023 index. And in comparison to February

2022, the index registered a 5.8 percent increase.

Health climbed 2 percent above January’s index and in comparison to February of the previous year, there was an increase of 6.2 percent.

Clothing and Footwear increased by 1.7 percent in February when compared to January 2023, while the year-to-year increase was 7.4 percent.

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