Lines
Lines

Prices Creep Upwards

The Government’s latest Index Retail numbers make for interesting reading. They show the cost of living continued its upward trend, with the Retail Price Index (RPI) rising to 193.01 on 1 January 2025, up from 192.06 just three months earlier. This represents an increase of 0.5% over the quarter and an increase of 2.4% over the year. 

Why it matters
The RPI measures the change in the cost of a fixed basket of goods and services, reflecting how price changes affect consumers and businesses alike. These figures are a key indicator for setting wages, pensions, and strategic business decisions. Inflation may be slowing, but it’s still rising — and likely affecting our members in different ways.

What are the figures?
Between 1 October 2024 and 1 January 2025, most categories saw price rises:What changed?

Transport & Vehicles: ↑ 0.05% (199.11 → 199.21)
Food: ↑ 0.65% (244.99 → 246.59)
Alcohol & Tobacco: ↑ 5.91% (276.63 → 293.01)
Clothing & Footwear: ↓ 1.53% (106.08 → 104.46)
Durable Household Goods: ↑ 0.19% (139.63 → 139.89)
Housing: ↑ 0.38% (156.17 → 156.76)
Services: ↑ 0.47% (221.14 → 222.19)
Other Goods: ↑ 0.05% (164.45 → 164.54)

The bottom line
The steepest rise came from alcohol and tobacco — a 5.91% quarterly jump. Meanwhile, clothing saw a dip. Businesses may be facing pressure from rising input costs, while consumers are feeling the pinch in everyday spending.

Are these changes affecting your business?
Join the conversation now in the GFSB Glue Up community. We want to hear your views.

View the full bulletin.

Lines
Small Lines

SHARE THIS

Lines

OTHER NEWS

The GFSB has conducted a flash survey of its members concerning their experiences during the first two weeks of the new Treaty arrangements.

The Office of Fair Trading's latest Annual Report reveals record numbers of businesses, plans to simplify licensing through a new Business Act and fewer consumer complaints. GFSB's Business Support Manager, Kim Chang, breaks down what the proposed reforms, increased digital services and stronger enforcement could mean for businesses, and why the GFSB's role in shaping policy has been recognised.

What a year it's been! From the Treaty moving from negotiation to reality to AI, workplace pensions, business confidence and everything in between, this year's Thrive EDIT has helped members navigate one of the busiest periods in Gibraltar's recent history. Before we take a short summer break, Editor David Revagliatte looks back at the stories that shaped the year and thanks readers for joining us on the journey.

Could Gibraltar be missing a golden opportunity? GFSB Board Director Brian Ross believes the answer is yes. In this thought-provoking opinion piece, he argues that Gibraltar should consider a residency route for financially self-sufficient individuals, attracting experienced people with the wealth, expertise and international networks to strengthen our economy. Could this be the next step in keeping Gibraltar competitive?

For many SMEs, the success of the business has been built on the expertise, relationships and commitment of its owner. This entrepreneurial approach has been instrumental in the growth of many of Gibraltar's successful businesses. However, as organisations develop, dependence on a single individual can become a strategic risk.