Year-on-Year Analysis
The All Items Index increased 5.0% for the 12-months ending July 2023; significantly larger than the 2.8% increase for the 12-months ending June 2023.
The indexes for Communication, Restaurants and Hotels and Housing, Water, Electricity, Gas and Other Fuels accounted for 58.8% of the overall inflation.
The index for Communication had the largest contribution of 24.5% with average prices increases recorded for cell phones and internet rates.
The index for Restaurants and Hotels accounted 22.9% of the increase.
The increase was driven by a 38.0% increase in the average price of meals away from home.
The index for Housing, Water, Electricity, Gas and Other Fuels accounted for 11.4%. Imputed rent was the largest contributor to the Housing, Water, Electricity, Gas and Other Fuels index of 8.7%.
The index for Food and Non-Alcoholic Beverages accounted for 29.3% of the overall inflation rate.
The Food index had the largest allocation of 26.7%.
The index for Food increased 8.3% while the index for Non-Alcohilc Beverages increased by 6.2%.
The indexes for Vegetables and Bread and Cereals accounted for 47.0% of the Food index.
The Index for Vegetables increased 9.5% while the index for Bread ad Cereals increased 10.4%.
The index for All Items Less Food and Energy rose 6.0% over the last 12-months. The Energy index declined 10.1% during the period.
The decrease was attributed to the decrease of fuel at the pump. The Fuel variation rate remained unchanged at 0.50 cents.
Month-to-Month Price Changes
The Monthly Consumer Price Index increased by 0.8% for the month ending July 2023.
The Food and Non-Alcoholic Beverages increased by 0.4% with the index for Food increasing by 0.4% over the month.
Five of the nine posted increases over the one month period. Notable increases were the indexes for Fish and Seafood (+3.8%), Milk, Cheese and Eggs (+3.4%).
The remaining increases were Bread and Cereals (+1.0%) to Meat and Meat Products (+0.3%).
In contrast, the index for Fruit recorded the largest decline of 7.7%.
The remaining indexes changes range from Oils and Fats (-0.1%) to Food Products N.E.C. (-0.6%).
The index for All Items Less Food and Energy increased 0.9% in July.
The increase was largely attributed to increases in the indexes for Restaurants and Hotels (+9.3%), Furnishings, Household Equipment and Routine Household Maintenance (+1.9%) Housing, Water, Electricity, Gas and Other Fuels (+1.8%) and Miscellaneous Good and Services (+1.8%). Several indexes declined in July, led by the Health index which fell 4.6% over the month.
The index for Recreation and Culture declined 2.5% while the index for Alcholic Beverages, Tobacco.
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I’m not surprised in the slightest at this 5% increase in inflation figures, and here’s why many Antiguans are struggling:
The price of basic/staple foods GONE-UP!
Utility bills PRICES GONE-UP!
Building materials PRICES GONE-UP!
Housing rents PRICES GONE-UP!
Gasoline PRICES GONE-UP!
Bottled water PRICES GONE-UP!
Bottled gas PRICES GONE-UP!
You know what else GONE-UP, and way way above inflation the current inflation rate?
Yes, that’s right Parliamentarian Ministerial wages GONE-UP!
*and way way above the current inflation rate?*
NOW WE’RE HEARING July 2023 CPI: Inflation Soars to 5.0%, Marking a Significant Surge from June’s 2.8%…
BUT STILL NO WORD FROM THE PRIME MINISTER ON INFLATION AS IT SOARS
THIS IS OUR ECONOMIC POORHOUSE.
@..Full of.. I see you have fallen for the misinformation. The report related to June makes clear:
“The Monthly Consumer Price Index rose 0.2% for the month ending June 2023.”
The 2.8% is for the 12 month period including June. The June monthly increase by itself was .2% see https://statistics.gov.ag/consumer-price-index-for-june-2023-rose-2-8/ .
Well highlighted @ GASTON FULL OF SHIXX.
It really doesn’t matter how much the ABLP acolytes try to sugar coat the RISE in figures, the fact still remains that the majority of Antiguans are STRUGGLING with the cost of living.
Tenman’s words DOESN’T pay the bills; Tenman’s words DOESN’T put food on Antiguans tables; Tenman’s words DOESN’T pay outstanding wages and delayed pensions.
DO NOT PAY TENMAN ANY MIND, HE’S A FULLY PAID UP ABLP GOVERNMENT SHILL – HE THINK HE WORDS WILL BRING DOWN INFLATION AND THE COST OF LIVING.
DAMN OVER-BLOATED JOKER!
We must keep holding these mindless ABLP clowns to account until Antigua & Barbuda has a government and a leader that cares.
Brixtonian highlighting the TRUTH, the whole TRUTH, and nothing but the TRUTH …
Enjoy the rest of your week 🤜🏽🤛🏽
… if Brixtonian went into politics, Antigua & Barbuda woulda SWEEEET!!!
The usual misleading headline. July’s inflation rate did not increase by 5%, it increased by .8%. The 5% reflects inflation for the last 12 months. Its sad when the public is fed misinformation. Report clearly states:
“The Monthly Consumer Price Index increased by 0.8% for the month ending July 2023. “
In terms of the 12 month inflation (i note the headline has now changed), in an economy that is healthy and growing, you need to see inflation. The question is when is it too low, and when too high? Normal inflation should be between 2 to 4%. Hence when last month the crazies were decrying a 2% (considered a sweet-spot by US economists) 12 month increase, they were in-fact showing themselves idiotic. Fact is inflation here is mostly imported. We are a small open economy hence have little control over inflation. The fact that its under control in our main import markets, and the data (12 month) being shown by the statistics department shows we are on (June)or near (July) a healthy level
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