December 22, 2006
Consumer Price Index

The cost of living rose slightly in November compared to the previous month but while the overall picture is miniscule there were some hefty increases and decreases in selected areas.

The single largest increase, according to the Statistical Office, was tomatoes – a whopping 61.94 per cent increase of $2.36 per pound more. In November the cost of tomatoes was $6.17 per pound compared to $3.81 in October.

Carrots and cabbages were the next two highest priced items. Carrots increased by 82 cents per pound of 21.3 per cent up from $3.85 in October while cabbage increased 80 cents per pound or 20.25 per cent from $3.95 per pound.{{more}}

The price of an 11 cubic feet refrigerator also increased slightly by $50 per unit.

The biggest decline in prices was for oranges which dropped from 60 cents per pound to 44 cents per pound or 26.67 per cent while pumpkins also dropped from $1.91 per pound to $1.43 per pound or 25.13 per cent decline.

All Items Index – One Month

In total the Consumer Price Index for the month of November 2006 rose by 0.8 per cent over the month of October 2006. The “All Items Index” for November was 113.7 percent, compared to 112.8 percent in October. The point-to-point inflation rate was 4.4 percent.

Four of the nine groups in the basket of goods and services increased, two decreased, and five remained unchanged.

The groups that increased were “Education” (2.1 percent), “Food” (1.4 percent), “Personal Services” (1.2 percent) and “Household Furniture & Supplies” (0.1 percent). Meanwhile the groups “Clothing & Footwear” and “Fuel & Light” decreased by 0.6 percent and 0.5 percent respectively. The groups that remained unchanged were “Alcoholic Beverages & Tobacco”, “Housing”, “Medical Care & Expenses”, “Transport & Communication”, and “Miscellaneous”. The group “Food” increased following an increase in the prices of tomatoes (61.9 per cent), carrots (21.3 per cent), cabbages (20.2 per cent), chicken wings (5.6 per cent), luncheon meat (4.2 per cent), and turkey wings (2.6 per cent). The 2.4 per cent increase in the price of a refrigerator resulted in a higher group index for “Household Furniture & Supplies”. Meanwhile, the increased price of a mathematics textbook caused a higher index of the group “Education”. Similarly, the index of the group “Personal Services” increased following the increase in price of toothpaste (2.7 per cent). The reduction in the fuel surcharge rate was responsible for the 0.5 per cent decline in the group “Fuel & Light”.