CONSUMER PRICE INDEX

30.MAY.08

For April 2008

The Consumer Price Index registered a 0.1 percent decline for the month of April 2008. A 10.2 percent point to point inflation rate was recorded for the month. The “All Item” index stood at 126.8 compared with 126.9 for March 2008.{{more}}

For the month of April, four (4) groups recorded increases in indices. “Fuel and Light” (3.1 percent), “Household Furniture and Supplies” (0.6 percent), “Education” (0.1 percent) and “Housing” (0.01 percent). The index for the groups “Food”, “Alcoholic Beverages and Tobacco” and “Personal Services” declined by 0.5, 0.04 and 0.02 percent respectively. In the meantime, the remaining groups; “Clothing and Footwear”, “Medical Care and Expenses”, “Transport and Communication” and “Miscellaneous” remained unchanged.

The main contributor to the increase in “Fuel and Light” was the rise in cost of electricity, moving from 0.47 cents per kilowatt-hour (KWH) in March to 0.54 cents per KWH in April 2008. A 16.0 percent increase in fluorescent tubes and 6.4 percent increase in toilet paper were responsible for the increase in the group “Household Furniture and Supplies”. The group “Housing” reflected an upward movement of 3.1 percent due to an increase in the price of galvanise nails.

The decrease in the group “Food” resulted mainly from lower prices for breadfruits (33.5 percent), sweet potatoes (7.7 percent), onions (4.9 percent) and chocolate sticks (4.8 percent).