Economy

Food Prices Rise 6.8%, Transportation 16.2% as USVI Inflation Outpaces U.S. Rate

A hefty import bill, inflation, and an exorbitant cost of living are among the pressing challenges burdening both the average Virgin Islanders and the Territory’s economy. While recovery projects and other opportunities for revenue collection could prove beneficial, it’s a longer term measure that won’t result in immediate relief for everyday citizens. On Tuesday, representatives of the Bureau of Economic Research appeared before the Committee on Economic Development and Agriculture to discuss the Territory’s economic outlook. According to Senior Project Analyst Bernesha Liburd, while inflation in the USVI has slowed to “approximately 5.7% by July 2026”, it remained above the U.S inflation rate of 3.4%. Ms. Liburd drew the connection between those figures and the “unique affordability challenges faced by residents.” She maintained that the trends “reinforce the importance of policies that promote housing affordability, workforce development, economic diversification, and long-term f...