The Cost of Living Commission
The Cost of Living Commission plays a critical advisory role in supporting the Government's commitment to affordability. Established under the Cost of Living Commission Act 1974, the Commission is tasked with reviewing price trends, recommending goods and services for designation as “essential,” and promoting transparency in pricing practices.
In 2020, amendments to the Act expanded the Commission's powers, allowing it to formally declare commodities as “essential” upon recommendation, strengthening its consumer protection mandate. Building on this progress, the 2025 Throne Speech outlines a renewed focus on affordability through legislative and policy reform. As part of this effort, the Commission will review and update the categories and list of essential goods and submit evidence-based policy recommendations to Cabinet. This initiative forms a key part of the Government's broader strategy to alleviate cost-of-living pressures and enhance market fairness for all residents.
The Cost of Living Commission will play a vital role in tracking the progress of affordability initiatives outlined in the Affordable Bermuda Agenda. By monitoring implementation and ensuring timelines are met, the Commission helps maintain accountability. It also works closely with the Affordable Bermuda Cabinet Committee to ensure that all proposed cost-of-living measures move forward together. The Commission will also take responsibility for educating consumers, with a focus on pricing reductions aligned with cost reductions supported by the Government.