Consumer Price Index (CPI) December-202
St John’s Antigua, January 21, 2022. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Dec 2021
The All Items index rose 1.2% for the twelve months ending December 2021.
The Food index rose 5.4% over the past twelve months ending December 2021. Except for Sugar Jams, Honey, Chocolate, and Confectionery, all other supermarket food groups increased over the period. The largest was that of Fruit which rose 14.2%. The index for Meat and Meat Products rose 10.2% over the year despite falling in December from 12.4% in November. The index for Milk, Cheese, and Eggs increased by 2.0% the smallest increase among the groups.
The Sugar Jams, Honey, Chocolate, and Confectionery index declined 2.2%.
The index for All Items Less Food and Energy marginally increased by 0.4% over the past twelve months. The indexes for Communication, Clothing and Footwear, Restaurants and Hotels, Health and Restaurant and Culture have the same increases as in October and November. The index for Alcohol Beverages, Tobacco, and Narcotics rose 6.9% over the last year. In contrast to the increase, the index for Transport fell 9.7%, and the index for Furnishings, Household Equipment, and Routine Household Maintenance declined 4.5%.
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 decreased by 0.2% for the month ending December 2021.
The Food index increased 0.2% in December following a larger increase of 2.8% in November. The index for Fruit increased the most rising 3.9% over the month as the index for Fresh and Chilled Fruit increased by 4.5%. The index for Vegetables rose 1.2% in December and the index for Bread and Cereals increased 1.1%. The index for Meat and Meat Products increased in December rising 0.2% after rising 1.9% in November. The index for Beef and Veal increased 5.2% and the index for Delicatessen and Other Meat Preparations declined 1.9% after rising 5.5% the previous month.
The index for All Items Less Food and Energy declined 0.3% in December. The index for Transport fell 1.9% over the month as the index for Transport Services declined by 5.4%. The major contributors to this decline were decreases in the average airline fares to the United Kingdom (-34.0%), St. Maarten (-23.0%), and New York (-8.5). The index for Alcoholic Beverages, Tobacco, and Narcotics decreased by 0.5%.
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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 Dec 2021 can be accessed on the Division’s official website www.statistics.gov.ag
Direct enquiries to:
Ministry of Finance and Corporate Governance
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Let me say that my total food bill rose 14% year on year, 2020/2021.
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