The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The Central Bank of The Bahamas said inflation slowed to 4.1 percent in its monthly economic developments report for November.

The bank said: “Average domestic consumer price inflation—as measured by the All Bahamas Retail Price Index—slowed to 4.1 percent during the twelve months to September, from 5.1 percent in the comparative 2022 period, as the rise in global oil prices moderated, vis-à-vis the same period last year.

It continued: “Specifically, the average price for communication declined by 0.1 percent, after posting a 10.5 percent increase last year. Further, the rise in the average cost of transport decreased notably to 0.1 percent from 15.0 percent in the prior year. Likewise, average inflation slowed for food & non-alcoholic beverages (8.8 percent); restaurants and hotels (6.6 percent); clothing & footwear (2.6 percent); and education (1.4 percent). Providing some offset, average inflation quickened for recreation & culture (12.7 percent); alcohol beverages, tobacco & narcotics (7.9 percent); health (6.0 percent); housing, water, gas, electricity & other fuels (5.0 percent); and furnishing, household equipment & routine household maintenance (4.1 percent). In addition, average prices for miscellaneous goods & services firmed to 2.1 percen, following a 1.1 percent decline in 2022.”

Debra Symonette, Super Value’s president, concurred and said that there have been a few decreases among grocery items particularly in corned beef and sugar. But produce items remain at the levels they were all year long, with little to no ease.

She also addressed the recent recall of Quaker granola products off of the shelves in the US and if it affected Super Value, which she said it did and the supplier, Thompson Trading, removed all of the affected Quaker products off of the shelves already.

Meanwhile, Super Value had a steady Christmas season with customers getting back to their regular shopping habits they had before 2020.

She also said: “We’re hoping that things will continue to go well and prices remain steady.”