Antigua and Barbuda records largest increase in rate of inflation since 2012

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St John’s Antigua, March 28, 2022. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Feb 2022

Year-on-Year Analysis

 

The All Items index rose 4.5 % for the twelve months ending February 2022. The annual inflation rate has been steadily rising and this is the largest increase since February 2012

 

The Food index rose 8.9% over the year with all nine food group indexes increasing. The index for Fruit increased 26.3% over the last year as both the indexes for Fresh and Chilled, and the index for Frozen, Preserved, or Processed Fruits increased 26.0% and 28.0% respectively.

The index for Meat and Meat Products rose 15.1% as all of its components increased except for Lamb, Mutton, and Goat which fell 4.4%.

The index for Fish and Seafood increased by 7.8%. Other major food groups also rose over the year with increases ranging from 3.3% (Milk, Cheese, and Eggs) to 19.9% (Oils and Fats).

The index for All Items Less Food and Energy increased 4.1% over the past twelve months. The Miscellaneous Goods and Services index rose 17.1% over the last year.

The index for Communication rose 10.8% resulting from increases in January 2022. The Index for Alcoholic Beverage, Tobacco, and Narcotics increased 10.1%, and the index for Housing, Furnishings, Household Equipment, and Routine Maintenance increased by 8.0.

 

The Energy Index remained unchanged over the past twelve months with all major components gasoline at the pump, LPG cooking, and fuel variation rate (Electricity).

 

 

Month-to-Month Price Changes

 

The Monthly Consumer Price Index increased by 1.2% for the month ending February 2022.

 

The Food index rose 1.3% in February. Seven of nine food group indexes increased over one month. The index for Bread and Cereals rose 3.2%, a further increase from 0.4% increase in January. The index for Sugars, Jam, Honey, Chocolate, and Confectionery increased by 2.8% with the component Sugar index rising by 3.8%. The index for Fruits rose 2.6% as the index for Fresh or chilled Fruit increased 3.1%.

 

The index for Non-Alcoholic Beverages rose 1.7%.

 

The index for All Items Less Food and Energy rose 1.3% in February following a 2.3% increase the previous month. The index for Transport rose 6.4% and was by far the biggest factor in the increase. Other increases included the indexes for Alcoholic Beverage, Tobacco and Narcotics (0.7%), Miscellaneous and Good and Services (0.2%), and Furnishings, Household Equipment, and Routine Household Maintenance (0.1%).

 

Methodology

 

What is the consumer price index (CPI) measuring and how is it done?

 

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.

 

Prices are collected monthly and quarterly from supermarkets and other suppliers of goods and services. The pattern of household expenditure on these goods and services is derived from a regular household budget (or expenditure) survey (HBS). 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.

 

The All Items (or overall) index, with all of its twelve (12) component indices, is published each month.

 

For a detailed account of the methodology used in calculating the CPI, please call the Statistics Division.

 

 

Copies of the CPI for Feb 2022 can be accessed on the Division’s official website www.statistics.gov.ag

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11 COMMENTS

  1. Swish…Swash!!!! Under a UPP. Administration there will either be zero inflation or deflation. Great is the UPP they will control global prices..Swish Swash!!!!

      • @FedUp you have earned a top fan badge.. angrier and smash you device…let me see if I have that much of a hold on you!!!

  2. JUST SAYING only the World Boss should be controlling global prices and yet still the performance has been so dismal.

    • Tabor good evening…as the country reopens remember we still need to do our strip club lime. I heard the one that your former UPP candidate ran on independence avenue is the bomb. Maybe you can arrange for us to get VIP treatment. You will still have to tip the girls for any lap dance.

      • JUST SAYING I thought you were always promoting your clubs and favourite hang out spots on Popeshead Street. Anyway, when the UPP wins the next general election you can make yourself known to me and you will get your night on the town free of cost. How is that for a deal?

  3. Gaston Brown is putting himself, his family, and friends in the 1% category of wealthiest, and leaving the rest 99% to struggle, if Stevie Wonder can see this happening, are we saying that those people that continue to vote for him are fools.

  4. Fruits 🍉 increased by 26% – 28%…

    ..,Whoa dankee! Whoa Donkey!
    … Tap yah me say! Me goh check dis #Kinnip Tree!
    …den, me garne a ghott
    …goh full me gut with #Custard Apple.
    …Uncle Archie say, fu check him next week
    …’cause, dem #Sugar-apple just start fu, open dem yeyee
    …and, U dun kno how dem sweet!
    …#Sour-sap, tap get dash wey and drap a grung
    …dem so scarce, U cyant even find dem
    …innah de market, de a ting!
    …#guava season just round de carner
    …fu mek me jam and jelly
    …once, dem simmer dung
    …innah likkle, honey and sugar
    …me cyan speed dat pan hot bread
    …jus lakkah apple buttah!
    …anyway, mek r we goh home
    …’cause, me cyant tek dem to prices, innah Antigua.

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