St John’s Antigua, December 24, 2021. The Statistics Division, under the Ministry of Finance and Corporate Governance releases the CPI for Nov 2021
The All Items index rose 2.7% for the twelve months ending October 2021.
The Food index rose 5.8% over the past twelve months, the largest 12-month increase since March 2020. Eight of the nine supermarket food groups increased over the period. The index for Meat and Meat Products rose 12.4% with the index for Poultry rising 15.1%. The index for Milk, Cheese, and Eggs posted the smallest increase increasing 1.5% over the same twelve-month period.
The remaining major supermarket food group indexes posted increases ranging from 3.3% (Bread and Cereals, Vegetables) to 11.7% (Oils and Fats).
The index for All Items Less Food and Energy rose 2.4% over the past twelve months. The index for Communication rose 20.8% over the period and the index for Clothing and Footwear increased by 8.0%. The indexes for Restaurants and Hotels and Health increased by 3.4% and 3.0% respectively. All these increases were the same as in October 2021. The index for Alcohol Beverages, Tobacco, and Narcotics rose 7.3% over the last year. The index for Recreation and Culture fell 10.2% and the index for Furnishings, Household Equipment, and Routine Household Maintenance declined 4.7%. Both indexes fell in October 2021.
Month-to-Month Price Changes
The Monthly Consumer Price Index increased 0.1% for the month ending November 2021.
The Food index increased 2.8% in November after rising 1.0% in October. The index for Fish and Seafood rose 8.4%. Within this group, the index for Fresh Chilled or Frozen Fish and Seafood increased 12.5%. The Index for Fruit increased 5.9% in November after declining -5.8% in October. The index for Vegetables rose 3.9% over the month.
The index for All Items Less Food and Energy declined -0.5% in November. The index for Transport fell 2.9% over the month as the index for Transport Services declined by 7.7%. The index for Alcoholic Beverages, Tobacco, and Narcotics increased 1.5%; the increase was the same as in October. The remaining categories had a marginal increase or no changes.
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.