Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customised advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns.

No cookies to display.

Bermuda’s 10% inflation rate is gouging the pockets of most Bermudians says Cole Simons OBA

The Government’s stated 2.75 % inflation rate in Bermuda does not add up.

The reality is that Bermuda’s 10% inflation rate is gouging the pockets of most Bermudians, leaving gaping holes that show no sign of repair. Some people are cutting back on essentials just to make ends meet, while others are cutting back on sheer principle to send a message that they refuse to pay the rising price of food and consumer goods. Enough is enough.

I recently met with a group of young professionals who are just starting out in life with their young families. They are very pessimistic about their future in Bermuda. They see a recession on our doorstep and are seriously thinking about moving overseas. They believe they will never be able to own a house on their own island.  They cannot afford the cost of preschool, childcare, not to mention the rising healthcare costs. They are stressed because they cannot afford to save for their future. The story is similar for retirees. The cost of healthcare, monthly maintenance for their homes, food – these costs are all quickly becoming out of reach. Wherever I go, I hear people openly complaining about the hyper inflationary cost of these essential items. In fact, people are quietly leaving the Island in droves!

 

Unfortunately, the situation has created a sense of hopelessness for many people in our community. They believe that the government is not doing enough to either support or empower them economically.

Premier David Burt and his Cabinet must do more to empower Bermudians so that they can feel encouraged and confident about living in Bermuda -not overseas.

Any content which is considered unsuitable, unlawful, or offensive, includes personal details, advertises or promotes products, services or websites, or repeats previous comments will be removed.

User comments posted on this website are solely the views and opinions of the comment writer and are not a representation of or reflection of the opinions of TNN or its staff.

TNN reserves the right to remove, edit or censor any comments.

TNN accepts no liability and will not be held accountable for the comments made by users.