CPI Release for October 2020



St John’s Antigua, November 23, 2020. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Oct 2020

Year-on-Year Analysis

The All Items Consumer Price Index increased by 1.3% for the twelve months ending October 2020.

The Food index increased 3.5% over the last twelve months. Eight of the nine major supermarket food indexes rose over the period. The increases range from 0.1% (Meat and Meat Products) to 8.1% (Vegetables). The increase in the Food index is the largest twelve months increase since March 2020. Six of the eight indexes reported increases above 1.0%. The Index for Milk, Cheese and Eggs rose 4.9%, Fish and Seafood (+4.1%) and the index for Fruit increased by 3.0%.

The index for Food Products N.E.C rose 2.9% while the index for Bread and Cereals increased by 1.0%.The index for Non-Alcoholic Beverages increased 2.5% resulting from average price increases for Soft Drinks and Concentrates and Fruit and Vegetable Juices.

The index for All Items Less Food and Energy increased 2.1% over the past twelve months. The index for Furnishings, Household Equipment and Routine Household Maintenance rose 16.7%. The index for Miscellaneous Goods and Services increased by 5.3%. The index for Alcoholic Beverages, Tobacco and Narcotics increased by 3.0%. In contrast, there were declines in the indexes for Housing, Water, Electricity, Gas and Other Fuels (-2.6) and Clothing and Footwear (-3.3).

Month-to-Month Price Changes

The monthly Consumer Price Index rose 0.6% for the month ending October 2020.The

Food index increased by 1.5% over the one month span. The index rose as seven of the major supermarket store indexes increased over the same period.

The index for Fish and Seafood rose 6.4%, a larger increase than the 1.6% rise in September. The sub categories of Fresh Chilled and or Frozen Fish and Seafood rose 19.7% and the sub catrgeory Preserved or Processed Fish and Seafood increased by 1.6%. The Index for Milk, Cheese and Eggs increased by 3.1%. The index for Fruit increased by 2.5% as the index for Fresh and Chilled Fruits recorded an increase of 6.8%. The index for Vegetables rose 1.7% following a marginal 0.1% increase in the previous month.

The Index for All Items Less Food and Energy increased by 1.7% after declining 1.8% in September. The index for Recreation and Culture which fell 8.6% in July rose 13.8% in October. The index for Furnishings, Household Equipment and Routine Household Maintenance increased by 12.5%.

—- 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.
St John’s Antigua, November 23, 2020. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Oct 2020

Copies of the CPI for Oct 2020 can be accessed on the Division’s official website www.statistics.gov.ag

October 2020 Monthly CPI Publication:

Monthly CPI October 2020