Consumer Price Index (CPI)
St John’s Antigua, April 24, 2025. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Jan 2025
Year-on-Year Analysis
The Consumer Price Index, a measure of good and services costs across the Antigua economy, fell, putting the twelve-month inflation rate at 4.5%, down from 5.4% in December 2024. The Food and Non-alcoholic Beverages Index increased 2.4% over the year. The Food Index rose 2.0% showing a slowdown in the increase of food prices over the last twelve months. Decreasing prices in Fish and Seafood, Meat and Meat Products, Sugar, Jams Honey, Chocolate and Confectionery, and Milk, Cheese, and Eggs helped reduce the food inflation rate. The index for Fresh, Chilled, or Frozen Fish and Seafood declined by 13.3% helping to drive a 5.2% decline in the index for Fish and Seafood,with the average price of frozen fish declining from $22.74 to $19.72 per pound. The remaining three categories measured smaller price increases which contributed to a reduction in food inflation. The index for Meat and Meat Products decreased from 2.9% in January 2023 to 0.8% in January 2025, this reduction affected the contribution to change of Meat and Meat Products in food inflation from 9.6% to 6.8%. Prices within the category of Preserved Milk and Other Milk declined by 6.7% affecting the index for Milk, Cheese, and Eggs which rose 0.2%, a smaller increase than 1.7% in 2024. The index for All Items less Food and Energy increased 4.5% over the last twelve months. The index for Miscellaneous Goods and Services increased 15.6% over the last year. Other indexes with notable increases over the year include Spare Parts and Accessories for Personal Transport Equipment (+15.5%), Restaurant and Hotels(+14.1%), Alcoholic Beverages, Tobacco and Narcotics (+10.8%) Health (+10.5%) and Recreation and Culture (+5.3%).
Month-to-Month Price Changes
In January 2025, the Consumer Price Index (CPI) increased by 2.5%, marking its largest rise since August 2024. However, the Food and Non- Alcoholic Beverages Index experienced a decline of 0.5% over the month. When excluding food and energy, core inflation stood at 3.6%. The Food Index saw a slight increase of 0.1% following a decrease of 0.9% in December. Seven out of the nine major supermarket food groups reported increases. This rise was primarily driven by five categories: Oil and Fats (+5.2%), Food Products Not Elsewhere Classified (N.E.C) (+3.1%), and Fruits (+2.1%). Additionally, both the Bread and Cereals category and Meat and Meat Products category increased by 1.3%. Notably, the average price of a 900ml bottle of soya oil rose from $7.32 to $8.32, while the average price of an 18oz bottle of peanut butter increased from $17.15 to $18.42. Conversely, the Non-Alcoholic Beverage Index fell by 4.5%, driven by an 11.2% decline in the index for Soft Drinks and Concentrates. This drop was mainly attributed to price reductions for canned Coke and Vita Malt. The index for All Items less Food and Energy rose by 3.6% over the month. This increase was associated with significant rises in the indexes for Transport Services (+47.2%), Purchases of Vehicles (+8.4%), and Clothing and Footwear (+2.5%).
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