The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Sep 2021
The All Items index rose 2.1% for the twelve months ending September 2021.
The Food index rose 1.2% over the past twelve months.
Seven of the nine major supermarket food group indexes increased over the period.
The index for Oils and Fats recorded the largest increase of 9.8%.
The indexes for Frozen, Preserved or Processed Fruit and Fresh and Chilled Fruit increased 13.7% and 7.5% respectively. These increases contributed to the overall increase in the index for Fruit which increased 8.4%.
The index for All Items Less Food and Energy rose 3.9% over the past twelve months. The indexes for Communication and Clothing and Footwear continue to be the main contributor with increases of 16.6% and 10.9% respectively.
The index for Furnishings, Household Equipment, and Routine Household Maintenance rose 6.0%, while the Alcoholic Beverages, Tobacco, and Narcotics index increased 3.7%. The index for Transport rose 0.5% after a 5.1% decline in August 2021.
The index for Restaurants and Hotels rose by 3.4% resulting from increases in accommodation services from the University of the West Indies.
Month-to-Month Price Changes
The Monthly Consumer Price Index decreased 0.2% for the month ending September 2021.
The Food index increased 0.1% in September. The index for Fruit rose 5.2% resulting from a 6.3% increase in the index for Fresh and Chilled Fruit. The index for Sugars, Jam, Honey, Chocolate, and Confectionery increased by 3.7%, the increase was influenced by the index for Sugar which rose 6.0%. The index for Milk Cheese and Eggs rose 1.2% with the index for Eggs increasing 15.4% over the one month period.
The Index for Vegetables declined 2.3%, the decline was influenced by decreases in the indexes for Fresh and Chilled Potatoes (-6.6%) and Fresh and Chilled Vegetables (-4.9).
The index for All Items Less Food and Energy declined 0.3%. The index for Transport declined 2.5%, resulting from a decrease in the index for Transport Services which fell 6.7%. The index for Alcoholic Beverages, Tobacco, and Narcotics fell 0.3%. The index for Furnishings, Household Equipment, and Routine Household Maintenance rose 0.1% and the index for Miscellaneous Goods and Services had an increase of 0.1%.
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.
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