Inflation in Cayman ticked up slightly in the second quarter on rising costs in communications and education, according to the latest data from the Economics and Statistics Office.
The Cayman Islands consumer price index increased by 1.7% in the second quarter of 2024, compared to a year earlier. Eight out of the 12 divisions recorded higher price indices.
The communication division rose 10.3% on increased telephone and telefax equipment costs and services, while education registered an increase of 9.4%, largely driven by a rise in the average price of secondary education. Higher prices in pre-primary, primary and tertiary education also factored in the education increase.
Housing and utilities saw a slight 3.3% increase, with rising rents as well as the cost of water supply contributing to the bump.
Consumers were able to find some relief from inflation in the clothing and footwear, and transport divisions, with declines of 3.0% and 2.7%, respectively. The average prices for clothing purchased abroad went down by 14.6%, while a 6.1% drop in fuel prices helped loosen inflationary pressure from the last quarter.
After record highs in 2023, food and non-alcoholic beverages rose 1.8% from the previous quarter. An 8.7% increase in sugar and snacks was the main cause of the rise in that division.
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