Menu Close

Consumer Price Index for April 2022 rose 7.2%

St John’s Antigua, May 26, 2022. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Apr 2022.

Year-on-Year Analysis

All Items Index rose 7.2% for the twelve months ending April 2021.

The Food and Non–Alcoholic Beverages Index increased 8.9%, representing a 22% share of the overall increase in the Consumer Price Index. The index for Food rose 9.0% with all nine sub categories recording increases over the period. The indexes for Vegetables, Meats and Meats Products and Food Products N.E.C were the most impactful on the consumers’ food expenditure. The indexes for Vegetables, Meat and Meat Products and Food Products N.E.C rose 10.0%, 10.3%, and 11.8 respectively.

The Energy Index remains at 11.0% after increasing in March 2022. A gallon diesel is $15.50 while gasoline is $15.70. All other components remained constant (20 lb. LPG cooking, and fuel variation rate).

The Index for All Items Less Food and Energy increased 6.1% over the past twelve months. Almost all major components increased over the period. Contributors to this increase include the Index for Miscellaneous Goods and Services which rose (+17.3%), Furnishings, Household Equipment and Routine Household Maintenance (+14.2%), and Communication (+12.2%).

 

Month-to-Month Price Changes

The Monthly Consumer Price Index increased by 1.0% for the month ending April 2022.

The Food Index rose 1.0% within this period, with five of the nine major subcategories recording increases. The major contributors to this include the index for Food Products n.e.c which rose 3.6%, Vegetables (+2.9%), and Meat and Meat Products (+1.6%). Meanwhile, the index for Fish and Seafood, Sugars, Jam, Honey, Chocolate, and Confectionery and Oils and Fats andall decreased by 1.2%, 4.1% and 0.2% respectively.

The Energy Index rose 11.0% the same increase as in March 2022.

The Index for All Items Less Food and Energy rose 1.1% in April. The Index for Furnishings, Household Equipment, and Routine Household Maintenance continue to rise, rising 4.8% in April after increasing 0.3% in the prior month. The index for for Transport rose 1.4% resulting from increases in the indexes for Spare Parts and Accesories for Personal Transport Equipment (+3.6) and Transport Services (+ 3.4). Recreation and Culture rose 3.3%.

—- 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 Apr 2022 can be accessed on the Division’s official website www.statistics.gov.ag

 

April 2022 Monthly CPI Publication:

Monthly CPI April 2022

 

Share via
Copy link
Powered by Social Snap