The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for June 2021
The All Items index rose 0.6% for the twelve months ending June 2021.
The Food index increased 2.0% over the last twelve months. This was the largest twelve-month change since December 2020 when the index rose 2.0%.
The index for Fruit rose 12.1% over the last year, the largest twelve months increase in that index. The index for Bread and Cereals and Oils and Fats rose 6.4%. The Food Products N.E.C index increased by 5.5% while the index for Meat and Meat Products increased by 3.1%.
The indexes for Fish and Seafood and vegetables declined 2.5% and 2.3% respectively.
The index for All Items Less Food and Energy rose 1.5% over the past twelve months. The index for Communication increased by 7.2% while the index for Furnishings, Household Equipment, and Routine Household Maintenance rose (5.9%). The Alcoholic Beverages, Tobacco, and Narcotics index increased 3.3% over the period.
The Energy index remains unchanged over the past twelve months. Gasoline and Diesel at the pump remain at $12.50 and S12.20 respectively. The Electricity index remains unchanged over the last year, while the index for LPG (20LB cooking gas) remains at $32.00.
Month-to-Month Price Changes
The Monthly Consumer Price Index increased 0.2% in June 2021 after declining -0.2%in May. This is the largest one-month change since December 2020 when the index rose 1.3%.
The Food index increased 1.7% in June. The Food index increase was mostly due to the indexes for Fruits, Food Products N.E.C, Meat, and Meat Products and Vegetables. The increases ranged from 1.5% to 13.2%. The Fruit index rose 13.2% in June its largest one-month increase. The index for Vegetables increased 1.5% after declining -0.9% in May.
In contrast to these increases, the indexes for Fish and Seafood and Milk, Cheese and Eggs were the only two of the nine major supermarket category indexes to decline. The index for Fish and Seafood decreased by -0.3% while the index for Milk, Cheese and Eggs fell by -1.7%.
The index for All Items Less Food and Energy was unchanged. Ten of the eleven non-supermarket food categories declined and remained unchanged.
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.