The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Feb 2021
The All Items Consumer Price Index for the month ending February 2021 increased 1.3%.
The Food index declined 1.9% after been unchanged in January. The index for Fruit fell 7.6% and the index for Vegetables declined 4.1% over the last year. The indexes for Meat and Meat Products and Sugars, Jams, Honey, Chocolate and Confectionery both declined 3.7% over the same period. The index for Fish and Seafood declined 2.3% in February, a smaller decline than January (-2.8%).
The index for Food Products N.E.C rose 2.5% continuing a series of increases. The Index for Bread and Cereals increased 2.3% while the index for Milk, Cheese and Eggs increased by 1.3%.
The index for All Items Less Food and Energy increased 3.2% over the past twelve months. The index for Transport rose 9.3% with the index for Transport Services increasing 16.1%. The Furnishings, Household Equipment and Routine Household Maintenance increased by 7.7%, a small increase than the January 7.6%. The Miscellaneous Goods and Services index also increased rising 1.2%. The index for Communication remained unchanged at 8.6%.
Month-to-Month Price Changes
The Monthly Consumer Price Index decreased 0.3% in February 2021.
The Food index declined 1.0% over the month of February with all major food groups declining. The index for Fruit fell 3.4% over the month as eight other major food group indexes decreased. The index for Sugars, Jams, Honey, Chocolate and Confectionery fell 2.5% as both the index for Jams, Marmalade and Honey/Syrup and Sugar fell 15.0% and 1.9% respectively. The index for Fish and Seafood decreased 1.9% and while the index for Meat and Meat Products decreased by 1.7%.
The index for Milk, Cheese and Eggs and the index for Food Products N.E.C both declined by 0.7%.
The index for All Items Less Food and Energy decreased by 0.3% in February. The index for Transport fell 1.0% with the index for Transport Services falling 2.3%. The index for Alcoholic Beverages, Tobacco and Narcotics declined 1.0% as the index for Alcoholic Beverages decreased by 1.7%. The Miscellaneous Goods and Services index and Furnishings, Household Equipment and Routine Household Maintenance also declined over the one month.
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 2021 can be accessed on the Division’s official website www.statistics.gov.ag
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