Prices rise 2.5 per cent since May 2010

Bermuda residents might relate to Him feeding the 5,000 with five loaves and two fish as the price of food rose in May thanks in part to large cost increases in codfish and bread.

According to the Department of Statistics, the food sector was up 0.4 per cent in May from April with codfish costing 8.1 per cent more and bread up 5.0 per cent.

Overall, the year-on-year rate of inflation was up 2.5 per cent while there was a decrease in prices from April to May by 0.3 per cent.

The Health & Personal Care sector of the Consumer Price Index shot up 8.1 per cent in year-over-year costs, but it was unchanged from April to May with minimal price shifts in the cost of medical supplies.

The sector includes the cost of doctor visits, health insurance, drugs and toiletries.

The Rent sector was up 0.3 per cent from April to May, mainly due to the rise in building material costs as rental units both under rent control and not under rent control remained static.

The Rent sector is up 1.6 per cent in year-on-year costs.

The Transport & Vehicles sector had the biggest decline in April to May costs as airfare was down 14.8 per cent and there was an 11.7 per cent drop in the cost of overseas hotel accommodations.