To provide price transparency on supply chain cost, the Government today tabled the Cost of Living Commission Amendment (No. 2) Bill 2026 in the House of Assembly to strengthen Bermuda's legislative framework for price transparency and enhance the work of the Cost of Living Commission.
The proposed amendments will provide greater visibility into pricing trends and the factors contributing to the cost of essential commodities and, once designated, critical services. The strengthened framework will build a more robust evidence base to support a clearer understanding of Bermuda's pricing environment and inform targeted, long-term policy action.
Critical services may include services connected to the transportation, shipping, freight, wholesale and retail of household goods, as well as household utilities such as electricity, telecommunications and trucked water. The legislation provides a process for services to be designated as critical based on factors including necessity, available substitutes and their impact on affordability.
Minister of Home Affairs, the Hon. Alexa Lightbourne, JP, MP, said the legislation represents an important step in the Government's wider work to address affordability through informed and evidence-based policy. “The cost of living remains a significant concern for the public, and our response must be grounded in a clearer understanding of the factors influencing the prices people pay for essential commodities and critical services,” said Minister Lightbourne. “Greater price transparency will help us understand pricing trends, assess pressures across the market and build the evidence required for targeted action. Better information will support the work of the Commission, give consumers greater visibility and strengthen the Government's ability to develop policies that can deliver meaningful, long-term improvements in affordability.”
The amendments modernise the Commission's framework by moving beyond a fixed list of individual goods to broader categories of essential commodities. The inclusion of designated critical services recognises the wider range of costs that can affect household budgets and the journey of goods and services through Bermuda's supply chain.
The strengthened framework will support the Commission's ability to examine affordability, pricing trends and market structures, undertake studies and make evidence-based recommendations. It will also improve public access to price information and strengthen transparency where legislative reporting requirements apply.
A spokesperson for the Cost of Living Commission said the amendments will strengthen the Commission's independent oversight role and improve the information available to consumers. “The Cost of Living Commission is independent, and our work remains objective, evidence-based and carried out in accordance with the law. Greater transparency across essential commodities and designated critical services will strengthen our ability to examine trends and better understand price movements. We encourage the public to pay attention to the prices they pay, review their receipts and bills, and compare prices where possible. An informed public contributes to greater visibility and a more transparent marketplace.”
Bermuda's pricing environment is influenced by domestic and international factors, including shipping, freight, supply chains, as well as both local and overseas market conditions. Greater access to pricing information will support a clearer assessment of these pressures, help identify trends and strengthen the Government's ability to determine where future policy interventions may have the greatest long-term impact. Further information is available at costofliving.gov.bm.
