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CPI rises: Are you feeling the pinch?

Cayman’s overall Consumer Price Index rose by 1.9% at the end of 2017. Cayman 27’s Jevaughnie Ebanks set out to find out if people are feeling the pinch. He has more in this report.

The Consumer Price Index affects us all and the supermarket is where we try to get the most bang for our buck so he wanted to find out how people felt about the rising CPI. Shopper Jon-David Thompson said, “IIt’sa little high to be honest, but I can see where they are working on it to kind of level it out.”

According to the Economic and Statistics Office (ESO) latest figures released last week showed the overall price index rose by 1.9% in 2017. Alcohol and tobacco rose by 2.3%. Food and non-alcoholic beverages rose by 1.3%.

While some are counting their cash shopper Brent Bush said he’s okay with the current prices. “I think you are getting your money’s worth. I feel they are more or less what they were,” said Mr. Bush. But shopper Myrtle Thomas disagrees. “You to the grocery. You try shopping from the shopping list but sometimes… They take the maybe a 10 cent of one item and when you go around the other isle them it is there,” said Mrs. Thomas.

Stats from the ESO consumer price index report show that some grocery items remained the same like the cost of bread. But Cayman 27 looked at 3 basic food items and compared prices between to two local stores. The first item was Spam, one retailer had it at $4.59 while another had it for $2.99. The next item, milk one retailer had prices starting at $3.29 while the other had it at $3.59. Finally, a tray of local grown eggs both priced it at $3.99.

Every seasoned shopper knows shopping around is the best way to maximize your money. Cayman 27 spoke to other customers, but they were camera-shy. However, they did say prices were high and wished there was a way to have business owners explain high prices.

We want to know what you think about the CPI increasing, as well as, grocery store prices. Please leave your comments on www.facebook.com/cayman27

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