It’s probably no surprise to you — the cost of living in Cayman continues to rise.
The consumer Price Index rose 3.2 percent in the first quarter of 2018 versus the same period the year before, according to the Economics and Statistics Office.
Cayman 27’s Kevin Morales has more.
He found that whether in the home, the grocery store or at the pump — the data in the Compendium of Statistics has very real ramifications for those like Isaac Ebanks.
“The prices are out of hand,” Mr. Ebanks said. “Only one thing is free, the sunshine, and if government could put a price on that, they would do it, too.”
The ESO Thursday (2 August) said released the data about the CPI climbing.
“That’s too much,” Mr. Ebanks said. “What about the poor man on the street? They’re living in a (rental) house and can’t pay his rent.”
The ESO says the uptick was driven primarily by a 21.5 percent average hike in air fares and a 5.7 percent increase in fuel prices. Electricity, pharmaceutical products and grocery staples drove the CPI up as well.
“Before, I could go to the supermarket and pay 50 bucks and get a couple bags worth,” Rafael Hackett said. “Nowadays, I pay 50 bucks and it’s just one bag alone i’m going home with.”
According to the ESO’s data, the overall inflation rate has risen in seven of the past 10 years.
“The cost of living never gets any better,” Jaime Ramos said. “I don’t know. I think we just learn to adapt.
“Whenever you compare a gallon of milk to whatever you buy in the (United States) — or pants, shoes, everything is always — it feels like it’s four times more than what you would pay in the States.”
After 25 years of living in Cayman, Sharon Galloway says you have to take the good with the bad.
“Compared to other places in the world, yes Cayman is a very expensive place to live,” she said. “But then we don’t pay tax. So you kind of pay your own tax in what you buy and what you do.”