Consumer Price index

January 2006

There was an increase of 0.7 percent in the Consumer Price Index during the month of January 2006. In contrast, during the same period for 2005 the Consumer Price Index stood at 1.2 percent. This increase is reflected in the “All Item” index of 109.9 which in comparison is higher than December 2005’s index of 109.1. The point-to-point inflation was recorded at 3.4 percent.{{more}}

In the period under review, three (3) groups recorded increases – “Food” (1.6 percent), “Alcoholic Beverages & Tobacco” (0.2 percent) and “Household Furniture & Supplies.” On the other hand, the groups “Housing,” (-0.8 percent), “Fuel and Light,” (-0.4 percent), “Education” (-0.9 percent) and “Personal Services” (-0.2 percent) recorded decreases. Meanwhile, the remaining four (4) groups “Clothing & Footwear”, “Medical Care & Expenses,” “Transport & Communication” and “Miscellaneous” were unchanged.

The group “Food” which recorded a 1.6 percent increase experienced the greatest percentage increase in prices. This was primarily due to increases in Pumpkins (45.9 percent), Dasheens (44.6 percent), Coconuts (34.7 percent), Plantains (31.7 percent), Sweet Peppers (27.8 percent) and Tomatoes (27.3 percent).

A 0.2 percent decline in “Personal Services” was indicated, essentially because of decreases in the prices of Razor Blades (24.8 percent) and Deodorant (1.8 percent). Additionally, the group “Fuel and Light” whose index had been amplified during the year 2005, now has a decrease in its index of 0.4 percent. This decline is reflected in the cost of Electricity, mostly due to a deceleration in fuel surcharge and specifically its movement from 0.31 cents in December 2005 to 0.30 cents in the current month.

While there was a 2.9 percent increase in the price of cement, the “Housing” index decreased by 0.8 percent. A 3.2 percent fall in the price of Lumber is predominantly responsible for the downward movement of this group.