CPI Release for December 2020



St John’s Antigua, January 19, 2021. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Dec 2020

Year-on-Year Analysis

The All Items Consumer Price Index for the month ending December 2020 increased 2.8%.

The Food index increased 2.0% over the last twelve months. Change in the major supermarket food group indexes were mixed in December. The largest increase was the Fruit index which rose 4.6% as the sub index for Fresh and Chilled Fruit increased 6.8%. The smallest increase was the Meat and Meat Products index which increased 1.6% over the last twelve months.

The index for Milk, Cheese and Eggs rose 4.2% over the last year. The Index for Vegetables and Food Products N.E.C also rose 3.1% and 2.4% respectively over the same span.

The index for All Items Less Food and Energy increased 4.4% over the past twelve months. The index for Furnishings, Household Equipment and Routine Household Maintenance increased 16.6%. The index for Transport rose 11.9% due mainly to an increase in airlines fares. The Index for Restaurants and Hotels declined 2.2% its largest twelve month decrease. The index for Miscellaneous Goods and Services increased by 4.9% while the index for Alcoholic Beverages, Tobacco and Narcotics rose 3.3%.

Month-to-Month Price Changes

The monthly Consumer Price Index rose 1.3% in December 2020.

The Food index rose 0.6% in December following a 2.1% decline in November. The index for Meat and Meat Products rose 2.1% after declining 2.0% in November. The change was attributed to a 4.3% increase in the sub index for Poultry. The Index for Bread and Cereals increased 1.1% its largest monthly change since January 2020.

The index for Fruit declined 1.8% its second consecutive decrease. The indexes for Fish and Seafood and Milk, Cheese and Eggs both declined 0.2% in December.

The Index for All Items Less Food and Energy increased by 1.6%. The index for Transport rose 8.1% its largest increase monthly increase since November (13.3%).

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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.
St John’s Antigua, January 19, 2021. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Dec 2020

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

December 2020 Monthly CPI Publication:

Monthly CPI December 2020