Fuel and power inflation

With the announcement of new statistics on poverty levels in Bermuda it might be good to take a look at the impact of inflation on households.

Here's a chart of weekly fuel and power expenditure compared against family earnings levels.  It was composed out of taking expenditure data from the 2004 Household Expenditure Survey and combining it with data from the recent Consumer Price Index report.  Note that data for 2008 is estimated using May 07 - May 08 data.

Comments

[Sal]

1/3 of all households are poor

11 percent is PLP spin,and pure bullocks,"the real poverty line in the last census was $37,000 for poor and $45,000 near poor..now it's $50,000.."The family earning between $15 and $25 per hour needs to work between 55-70 hours per week just to survive and make ends meet."
The PLP has been in Government for 10 years. In that time, Bermuda's government expenditures have more than doubled
During this same period the government collected hundreds of millions of dollars that, that could have been directed to help people most in need,the homeless,the 1/3 of all households who are poor ( 2000 census)

Kim Swan

[Mike]

Kim Swan is right.

More mind boggling though, is the idea that any one individual can have a nutritious diet on $5.85 per day.

Maybe the Premier should try that, and then report to Parliament on policy for the poor.

[Kristianson]

BELCO seem to be hedging their diesel exposure well, or not passing on the extra cost to consumer. Diesel prices are up roughly 150% since end of 2004, but average power consumption cost seems to be up "only" 30-50% depending on family income group in the above chart.

[creg]

In Cayman, their NALC (National Assessment of Living Conditions) report released in May 08, gave the poverty line there as $3,983 per annum!!
That includes that a man can feed himself on $1.83 a day,no joke.
Then from that they said that only 10% of the population lived under the poverty line.

[Sal]

for starters,not including the limos,love fests,R and B music fests,Playboy mansion parties,US sports sponsorships,caribbean-disapora BULLSHIT fests, race pimping seminars,consultants fees ,and PLP travel budget of ONE $ MILLION dollars per DAY

one night Deluxe King suite (cheapest room) at the Burj Al Arra – Jumeirah Property (6 start) in Dubai – is priced for tonight – one night only – room only, no food, tax etc. at $1061.69.

That seems pretty popular with Brown's elitist politicians and that room rate would feed a single parent and child for 96 DAYS………on the figures provided!