National

Power Costs Slows Inflation Decline

NASSAU, BAHAMAS – A decline in inflation is slow-moving when compared to other parts of the world, according to Central Bank Governor John Rolle.

Published

1 year ago

July 31, 2023

Berthony McDermott

NASSAU, BAHAMAS – A decline in inflation is slow-moving when compared to other parts of the world, according to Central Bank Governor John Rolle, who attributed the delay to one main factor.

In recent weeks, Bahamians have been taking to social media, complaining about what they say seems to be rapidly increasing power bills.

It comes months after the government announced a price hike at BPL, with the prime minister revealing the fuel charge will nearly double for some consumers.

Still, the Central Bank governor says the peak rate of inflation was still below the peak rates in the United States.

As for the economic outlook, Rolle says, growth will moderate in 2024 as inflation will subside.