The Consumer Price Index (CPI) fell by 1.6 percent in the third quarter of 2020 when compared to the same period in 2019. Of the twelve CPI divisions, five recorded decreases.

In the third quarter of 2020, the division transport recorded the largest average price decline in the CPI basket (6.9%). This was due mainly to the fall in the average cost of passenger transport by air, which fell by 25.4 percent while fuels decreased by 14.1 percent.

The index for recreation and culture fell by 5.6 percent in the third quarter of 2020. The main contributor to this decrease was a 43.2 percent fall in the price for package holidays (abroad).

The electricity index declined by 24.6 percent, while water supply dropped by 15.3 percent. The overall housing and utilities index decreased by 2.8 percent as a result.

A comparison of the third quarter and second quarter of 2020, indicates that the CPI fell by 0.8 percent, as the average cost of housing and utilities declined by 2.8 percent, education moved downward by 1.9 percent. Recreation and culture fell by 0.9 percent.

More information from the Cayman Islands’ Consumer Price Index Report: July to September 2020 may be downloaded from www.eso.ky