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Peter Goodall As we emerge from the pandemic, global markets continue to struggle to reach supply/demand equilibrium. Lumber futures jumped 538.64% from the March 2020...
Lumber prices, an important element of property construction costs, dropped 40% in June – the biggest monthly fall on record in the US markets..
Predicting the future is hard, especially when it comes to the potential persistence of inflation and the appropriate monetary policy response in the latter stages of a global pandemic.
Inflation expectations just reached their highest levels in a decade and that has some investors on edge.
Food and non-alcoholic drink prices have increased by 6 percent compared to a year ago, according to the most recent Consumer Price Index report.
Tenants will already have noticed the hit to their bank accounts, as the latest rental cost figures from the Economics and Statistics Office show a 19.7% increase in rents during the first quarter of this year compared to the same period a year earlier.
What, if anything can be done? The answers, while imperfect, remain largely unchanged.
Although the inflation rate to dropped to 1.7% in the fourth quarter of 2018 compared to the same period in 2017, general price increases of 4.8% in the second and 3.5% in the third quarter meant that inflation kept pace with the forecast economic growth for the year.
Recently released statistics on inflation may have come as no surprise to Cayman Islands residents whose wallets lately have seemed a bit lighter.
The average price of goods and services in Cayman increased by 3.5 percent in the third quarter of 2018 over Q3 of 2017, according to recently released data from the Economics and Statistics Office.
Buoyed by growth in tourism and construction and an unprecedented number of new company registrations, the Cayman Islands Gross Domestic Product grew by 4 percent in the early part of 2018.
The number of Caymanian families receiving help with food and rent payments from government rose sharply in 2017, according to the government’s latest Compendium of Statistics.
Cayman’s inflation rate hit 3.2 percent in the first quarter of this year, compared to prices from the first quarter of 2017, according to a recently released report from the Economics and Statistics Office.
A capital gains tax, in effect, raises the risk and price of the investment, resulting in lower investment and slower growth and job creation.
Average prices in the Cayman Islands went up by 1.9 percent last year, according to the consumer price index for 2017. The latest CPI report by the Economics and Statistics Office shows that prices increased in all four quarters ranging from 1.4 percent to 2.8 percent.
The average price of goods and services in Cayman increased by 1.4 percent in the third quarter of this year over Q3 of 2016, according to recently released data from the Economics and Statistics Office.
In sum, monetary policy as we have known it is broken and is unlikely to be put back together again in a satisfactory way.
The average cost of goods and services in Cayman has increased by 1.7 percent in the first quarter of this year, the fastest rate in three years. The main drivers of inflation in the consumer price index were the restaurant and hotels category.