With so much going on, one could have missed this week’s Retail Price Index figures… The Government of Gibraltar’s latest numbers show a 2.3% price increase from April to July 2024 and a 2.6% year-on-year rise, highlighting inflationary pressures. Notable rises in categories such as Transport, Alcohol, and Housing. GFSB members should be aware of potential cost pressures, particularly in the transport and goods sectors.

What were the key takeouts?

There were notable rises in categories such as Transport, Alcohol, and Housing. The numbers hint that Gibraltar’s economy may be shifting: 

Transport & Vehicles saw the most significant jump, rising 8.9% from 185.51 in April to 201.97 in July 2024.

Housing increased by 1.3%, from 153.33 to 155.26.

Alcoholic Drink & Tobacco also saw a notable rise, moving from 268.00 to 274.26.

The 2.6% year-on-year increase highlights rising costs, which could impact your pricing strategies and squeeze your profit margins.

What’s your view?

We’d love to hear your views on the latest Retail Price Index and how these figures impact your business. Have rising costs in areas like transport and housing affected your operations? Share your experiences with us, and let’s keep the conversation going—email editor@gfsb.gi 

Data sourced from: https://www.gibraltar.gov.gi/press-releases/index-of-retail-prices-10281