Inflation was 2.44% in 2012

Bermuda’s inflation rate for 2012 was 2.44 per cent.

The Department of Statistics released the Consumer Price Index on Monday.

December’s rate of inflation was 1.9 per cent, which marked the fourth consecutive month inflation was below 2.0 per cent.

It was also one full percentage point below the December 2011 inflation rate.

August had the highest rate of inflation at 3.1 per cent followed by January’s 3.0.

Rent controlled properties increased by 0.1 per cent in December while the cost of properties not under rent control declined 0.1 per cent.

Food prices fell in December by one per cent with potatoes showing an 8.5 per cent decrease. Other items which cost less included eggs (down 5.9 per cent) and mayonnaise (down 5.0 per cent).

The Statistics Department said this was due to holiday specials offered by grocers.

The Transport and Vehicles sectors declined by 2.0 per cent thanks in a large part to  overseas hotel accommodations being down 13.4 per cent. However, air fares were up 6.4 per cent and car fuel increased by 0.4 per cent.

Consumers paid 2.9 per cent more in December in the Fuel & Power Sector as electricity went up 3.1 per cent.

The price of body massages declined 3.0 per cent for December.