The price of pork rose 7.0% in August

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St John’s Antigua, September 23, 2021. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Aug 2021.

 

Year-on-Year Analysis

 

The All Items index rose 1.1% for the twelve months ending August 2021, a smaller increase than the 2.3% rise for the period ending July 2021.

 

The Food index rose 2.0% over the last twelve months.

Six of the nine major supermarket food group indexes increased over the period.

The largest increase was the index for Food Products N.E.C which increased 9.7% as average price increases were observed for Salt, BBQ Sauce and Ketchup.

The index for Fruit rose 9.1% over the last year as both the indexes for Frozen, Preserved or Processed Fruit and Fresh and Chilled Fruit increased 14.0% and 8.1% respectively.

The index for All Items Less Food and Energy rose 2.3% over the past twelve months. The indexes for Communication and Clothing and Footwear remained at 16.6% and 10.9% as was the period ending July 2021.

The index for Furnishings, Household Equipment, and Routine Household Maintenance rose 5.9%, while the Alcoholic Beverages, Tobacco, and Narcotics index increased 4.8% over the twelve months.

The index for Transport declined 5.1% as a result of a reduction in the index for Transport Services which fell 17.3%.

The index for Housing, Water, Electricity, Gas and Other Fuels and the index for Restaurant and Hotels both decreased by 2.2% as was similar in the period July 2021.

 

Month-to-Month Price Changes

 

The Monthly Consumer Price Index increased 0.2% after rising 0.4% in July.

 

The Food index increased 0.9% in August after remaining unchanged in July. Seven of the nine major supermarket food groups’ indexes rose over the one month.

The index for Meat and Meat Products increased 3.3% in August as the indexes for Pork and Poultry increase 7.0% and 4.2%.

The index for Oils and Fats rose 2.3% resulting from increases in the indexes for Soya Oil (21.3%), Table Butter (18.3%), and Olive oil (10.4%). The index for Fruit rose 2.0%, a larger increase than the -5.8% in July.

 

The Index for Fish and Seafood declined 0.8% after rising 1.2% in July. The index for Bread and Cereals decreased 0.3% over the one month.

 

The index for All Items Less Food and Energy remains unchanged. The Index for Alcoholic Beverages, Tobacco, and Narcotics increased

 

by 0.6%. The index for Furnishings, Household Equipment, and Routine Household Maintenance rose 0.1% and the index for Miscellaneous Goods and Services had a marginal increase of 0.1%.

 

 

 

—- END —-

 

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 Aug 2021 can be accessed on the Division’s official website www.statistics.gov.ag

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