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Consumer Price Index


Consumer Price Index

COMMENTARY

Section 1: Headline Inflation

The annual inflation rate in December 2017 was 3.2 percent, registering an increase of 0.3 of a percentage point on the November 2017 rate of 2.9 percent. The inflation rates for regions between November and December 2017 indicated that Cities & Towns increased to 3.6 percent from 3.1 percent, Urban Villages’ went up to 2.9 percent from 2.6 percent and Rural Villages’ rose to 3.1 percent from 3.0 percent between the two months.

The December national Consumer Price index moved from 103.4 in November 2017 to 103.7 in

December 2017, an increase of 0.4 percent. The Cities & Towns’ index realized a rise of 0.6 percent, moving from 103.4 to 104.0. The Urban Villages’ index’ rose by 0.3 percent, advancing from 103.0 in November 2017 to 103.3 in December 2017, while Rural Villages index registered an increase of 0.2 percent, moving from 103.7 to 103.9 between the two months.

Group indices were generally moving at a steady pace between November and December 2017, recording changes of less than 1.0 percent except Transport index group which registered an increase of 1.6 percent.

The Transport index group registered an increase of 1.6 percent, from 102.7 in November to 104.3 in December. This was attributed to an increase in the constituent section index of Operation of Personal Transport, which went up by 2.8 percent. The increase in Operation of Personal Transport section index was attributed to the rise in retail pump prices for petrol by P0.30 and diesel by P0.30 per litre, which effected on the 10th December 2017.

The Restaurants & Hotels group index went up from 104.0 to 104.6, recording a rise of 0.5 percent between the two months. This was due to a general increase in the constituent section indices.

The Food & Non-Alcoholic Beverages index group moved from 102.6 to 102.1, recording a decrease of 0.5 percent between November and December. The drop was attributed to the general decrease in some section indices. Notably; Bread & Cereals (1.1 percent), Food not elsewhere classified 1.8 percent) and Mineral Waters, soft Drinks, Fruits & Veg Juices (1.0 percent).

All-Tradable inflation rate was 3.0 percent in December, an increase of 0.3 of a percentage point on the November rate of 2.7 percent. The Imported Tradable inflation rate went up from 3.1 percent in November to 3.7 percent in December. The Non-Tradable inflation rate increased from 3.4 percent in November to 3.7 percent in December. Domestic Tradable inflation rate dropped to 1.3 percent from 1.6 percent between the two periods.

The All-Tradable index moved from 103.3 in November to 103.7 in December, registering an increase of 0.4 percent. The Imported Tradable index moved from 103.6 in November to 104.3 in December, recording an increase of 0.6 percent. The Non-Tradable index moved from 103.5 in November to103.9 in December, registering an increase of 0.3 percent, while the Domestic Tradable index dropped by 0.1 of a percentage between the two periods.

 


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