Bermuda's Cost of Living Rises in April
Bermuda's Cost of Living Rises in April
Bermuda's Cost of Living Rises in April
News summary

In April 2024, Bermuda's cost of living rose by 2.2%, driven by a significant 6.4% increase in fuel and energy costs compared to the previous year. Food prices also saw a notable rise of 3.6%, while transport and foreign travel costs decreased by 2.4%. In August 2024, Malta's inflation rate increased to 2.4%, contrasting with a downward trend in the EU, largely influenced by rising prices in restaurants and hotels. The UK is expected to see inflation remain above the 2% target, with services inflation rising to 5.6% in August, driven by hospitality and culture costs. Economists predict UK inflation figures will show slight increases, impacting the Bank of England's monetary policy decisions. Overall, inflationary pressures remain persistent across various regions, with potential geopolitical factors influencing future trends.

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