Consumer Price Index rose 2.1% in Mar 2021

 



St John’s Antigua, April 14, 2021. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Mar 2021

Year-on-Year Analysis

The All-Items Consumer Price Index for the month ending March 2021 increased by 2.1%.

The Food index declined 0.7% a smaller decrease than the -1.9% reported in February 2021. Four of nine supermarket food group indexes decreased over the period with decreases ranging from -1.6% (Meat and Meat Products) to -4.2% (Vegetables). The index for Sugars, Jams, Honey, Chocolate and Confectionery decreased by 2.5% while the index for Fish and Seafood declined 3.9%.

The index for Milk, Cheese and Eggs rose 5.1% over the last year. The increase was impacted by a 9.4% increase in the index for Preserved Milk and Other Milk Products. The index for Bread and Cereals increased 4.0% as its five subcategories rose with increases ranging from 1.0% to 7.7%.

The index for All Items Less Food and Energy increased 4.0% over the past twelve months. The index for Transport rose 13.5% with the index for Transport Services increasing 28.6%. The increase was impacted by imputation methods for the unavailability of some flights. The Furnishings, Household Equipment, and Routine Household Maintenance increased by 8.0%. The Miscellaneous Goods and Services index rose 0.9% while the index for Alcoholic Beverages, Tobacco and Narcotics increased by 0.8%. The remaining indexes remained unchanged since January’s last collection.

Month-to-Month Price Changes

The Monthly Consumer Price Index decreased 0.1% in March 2021.

The Food index declined 0.2% in March. The index for Vegetables fell 2.6% over the one month. The index for Oils and Fats declined 0.3% in March its second consecutive decrease. The index for Fish and Seafood decreased 0.2% as the index for Fresh, Chilled or Frozen Fish and Seafood decreased 1.2%. The Index for Fruit decreased by 0.1% a smaller decrease than the 3.4% decrease in February.

The index for Milk, Cheese and Eggs increased 2.0% after declining 0.7% in February. The index for Bread and Cereals rose 1.3% as the indexes for Pasta Products (+5.3%), Bread (+2.3) and Other Bakery Products (+1.2%) increased over the period.

The index for All Items Less Food and Energy was unchanged in March. The index for Alcoholic Beverages, Tobacco and Narcotics rose 0.8% as the index for Alcoholic Beverages and Tobacco increased 1.0% and 0.3% respectively. The index and Furnishings, Household Equipment and Routine Household Maintenance increased 0.2% over the one month. The index for Transport declined 0.4% with the index for Transport Services decreasing by 0.9%.

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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 Mar 2021 and previous years, can be accessed in the ‘Consumer Price Index’ subject are of this website.

Mar 2021 Monthly CPI Publication:

Monthly CPI March 2021