{"id":195004,"date":"2024-02-05T13:17:50","date_gmt":"2024-02-05T17:17:50","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=195004"},"modified":"2024-02-05T13:17:50","modified_gmt":"2024-02-05T17:17:50","slug":"inflation-insights-all-items-less-food-and-energy-index-jumps-4-2-in-antigua-for-dec-2023","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/inflation-insights-all-items-less-food-and-energy-index-jumps-4-2-in-antigua-for-dec-2023\/","title":{"rendered":"Inflation Insights: All Items Less Food and Energy Index Jumps 4.2% in Antigua for Dec 2023"},"content":{"rendered":"
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St John\u2019s Antigua, February 5, 2024. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Dec 2023<\/p>

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Year-on-Year Analysis<\/strong><\/p>\n

The Inflation rate or the All Items Index rose 3.3% for the twelve months ending December 2023, a similar increase to the 3.3% increase for the twelve months ending November.<\/p>

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The index for Food increased by 2.4% over the last twelve months driven primarily by increases in the indexes for Sugar, Jams, Honey, Chocolate, and Confectionery (+14.1%) and Bread and Cereals (+8.8%), Fruit (+7.9%) and Food Products N.EC (+5.6%).<\/p>

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The remaining five Food indexes reflected smaller increases and decreases. The index for Milk Cheese and Eggs increased by 2.6% while the index for Oils and Fats increased by 1.2%. The three remaining index declines range from Vegetables (-0.7%), Fish and seafood (-1.1%) and Meats and Meat Products (-2.1).<\/p>\n

The index for All Items Less Food and Energy index rose 4.2% over the past twelve months. The increase was primarily influenced by increases in the indexes for Communication (+17.0%), Restaurants, and Hotels (+8.9%). Clothing and Footwear (+7.3%), Miscellaneous Goods and Services (+5.3%), and Furnishing Household Equipment and Routine Household Maintenance (+4.1%).<\/p>

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Month-to-Month Price Changes<\/strong><\/p>\n

The Monthly Consumer Price Index marginally increased in December by 0.2%.<\/p>

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The Food and Non-Alcoholic Beverages rose by 0.4% with the index for Food increasing by 0.1% over the month. The food category posted mixed results with six of nine subcategories posting small increases over the one month.<\/p>

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The increases range from Fish and Seafood (+0.1%), Vegetables (+0.2%), Sugar, Jams, Honey, Chocolate, and Confectionery (+1.1%) and Bread and Cereals (1.1%).<\/p>\n

The notable increases were Food Products N.EC (+1.2) and Milk Cheese and Eggs (+2.1%).<\/p>\n

In contrast, the index for Oils and Fats declined by 1.9% and the index for Meat and Meat Products fell by 2.1%.<\/p>\n

The index for All Items Less Food and Energy rose 0.2% in December. The increase was attributed to increases in the indexes for Actual Rentals for Housing (+1.1%), and Miscellaneous Goods and Services (0.2%).<\/p>\n

Methodology<\/strong><\/p>\n

What is the consumer price index (CPI) measuring and how is it done?<\/p>\n

The All Items Consumer Price Index (CPI) is the main measure of what is commonly called inflation, or headline inflation. It measures the change in prices, on average, from month to month, and from year to year of the goods and services bought by most households.<\/p>\n

Prices are collected monthly and quarterly from supermarkets and other suppliers of goods and services.<\/p>\n

The pattern of household expenditure on these goods and services is derived from a regular household budget (or expenditure) survey (HBS).<\/p>\n

The prices and spending patterns (known as weights) are then combined to calculate the price indices for groups of goods and services and for the All Items index. These indices are based on expenditure patterns in 2006.<\/p>\n

The All Items (or overall) index, with all of its twelve (12) component indices, is published each month.<\/p>\n

For a detailed account of the methodology used in calculating the CPI, please call the Statistics Division.<\/p>\n

Copies of the CPI for Dec 2023 can be accessed on the Division’s official website www.statistics.gov.ag<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

St John\u2019s Antigua, February 5, 2024. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Dec 2023 Year-on-Year Analysis The Inflation rate or the All Items Index rose 3.3% for the twelve months ending December 2023, a similar increase to the 3.3% increase for the twelve months ending November. 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