St John’s Antigua, December 28, 2022.
The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Nov 2022
Year-on-Year Analysis
The All Items Index increased 8.8% for the twelve months ending November 2022.
The Food Index rose 11.1% over the last twelve months.
Seven of the nine major food categories rose above 10.0% for the same period.
The index for Oils and Fats had the largest increase of 27.8%.
The index for Meat and Meat Products increased by 17.8% and the index for Food Products N.E.C increased by 17.5%.
The indexes for Bread and Cereals, Milk, Cheese and Eggs and Sugar Jam, Honey, Chocolate, and Confectionery are the other three major food groups’ indexes influencing the increase in the index for Food.
The index for Bread and Cereals contributed 13.7%, while Milk, Cheese, and Eggs contributed 12.9%.
The index for Sugar Jam, Honey, and Chocolate increased by 12.6%.
The Index for All Items Less Food and Energy rose 8.1%.
The index was primarily influenced by a 34.6% increase in the index for Transport Services.
The changes in the remaining major groups were reflected in changes in the October quarterly schedule.
The index for Energy remained at 10.9% over the last twelve months.
Month-to-Month Price Changes
The Monthly Consumer Price Index rose 1.1% for the month ending November 2022.
The Food Index increased by 0.8% in November 2022 after experiencing no change in October 2022.
The index for Oils and Fats had the largest percentage increase of 2.5% followed by a 2.1% increase in the index for Milk, Cheese, and Eggs.
The increase was also influenced by increases in the indexes for Vegetables (+1.9%), Bread and Cereals (+1.5%), and Meat and Meat Products (+1.4%).
The Index for All Items Less Food and Energy rose by 1.4%, this increase was impacted by the index for Transport Services. The index increased by 18.7% and was influenced by the index for Passenger Transport by Air (+22.3%).
Methodology
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 Nov 2022 can be accessed on the Division’s official website www.statistics.gov.ag
Direct enquiries to:
Issued by:
Statistics Division
Ministry of Finance and Corporate Governance
Mr. Rohan Anthony, Senior Statistician, (268) 462 0451 Ms. Jerry Aska, Senior Research Officer, (268) 562 7496
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