Consumer Price Index Press Release

St. John’s, Antigua, 29 May 2020. The Statistics Division under the Ministry of Finance and Corporate Governance releases the monthly CPI (Consumer Price Index) for December 2019.

Year-on-Year Analysis

The All Items Index increased 0.7% for the 12-months ending December 2019. The Food and Non-Alcoholic Beverages Index increased 0.8% over the same period.

The Food Index increased 0.8% over the same twelve-month period. The Index for Fish and Seafood increased by 5.1%, while the Index for Meat and Meat Products increased by 3.4%. The Index for Vegetables rose 2.2% and the Index for Oils and Fats recorded an increase of 1.6%.

The Non-Alcoholic Beverages index rose 1.2% as the sub-index of Mineral Waters, Soft Drinks, Fruit and Vegetable Juices advanced 2.4 % and Coffee, Tea and Cocoa and advanced 2.2%.

The Index for All Items Less Food and Energy rose 0.8% over the past 12 months. The Transport Index rose 1.5% with the Index for Transport Services increasing 7.6%. Indexes that declined over the past 12 months include Goods and Services for Routine Household Maintenance (-0.8%) and Miscellaneous Good and Services (-0.7%).

The Energy index remained unchanged.

Month-to-Month Price Changes

The Monthly Consumer Price Index for the month of December declined by 1.8%, the second largest monthly decrease for 2019. The Food and Non-Alcoholic Beverages Index was unchanged. The Food sub-index decreased 0.1%. A 2.5% decline in the Index for Milk, Cheese and Eggs was the largest contributor to the monthly decrease. The Index for Meat and Meat Products fell 1.8% as the Index for Pork decreased 22.3. Though the index declined some food component indexes increased.

The Index for All Items Less Food and Energy fell 2.4% in December, the largest monthly decline since rebasing. The Index for Transport Services was the largest contributor with a 26.3% reduction in airline fares. The sub index for Goods and Services for Routine Household Maintenance fell 1.1%. The Alcoholic Beverages, Tobacco and Narcotics index decreased by 0.1%.

The Energy index remained unchanged.

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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 eleven (11) component indices, is published each month.

Copies of the CPI for Dec 2019 can be accessed on the Division’s official website

2019 Monthly CPI Press Releases for October and November:

Monthly CPI Press Realease October 2019 (PDF – 104 KB)

Monthly CPI Press Realease November 2019 (PDF – 103 KB)

2019 Monthly CPI Publications for October to December:

Monthly CPI October 2019 (PDF – 311 KB)

Monthly CPI November 2019 (PDF – 313 KB)

Monthly CPI December 2019 (PDF – 315 KB)