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Consumer Price Index - April 2018


Consumer Price Index - April 2018

COMMENTARY

Section 1: Headline Inflation

The annual inflation rate in April 2018 was 3.4 percent, registering an increase of 0.6 of a percentage point on the March 2018 rate of 2.8 percent. The inflation rates for regions between March 2018 and April 2018 indicated that Cities & Towns increased to 4.2 percent from 3.3 percent, Urban Villages’ went up to 3.1 percent from 2.6 percent and Rural Villages’ also increased to 2.7 percent from 2.3 percent between the two months.

The April national Consumer Price index moved from 104.6 in March 2018 to 106.0 in April 2018, an increase of 1.3 percent. The Cities & Towns’ index realized a rise of 1.6 percent, moving from 104.9 to 106.6. The Urban Villages’ index’ rose by 1.3 percent, advancing from 104.2 in March 2018 to 105.6 in April 2018, while Rural Villages index registered an increase of 1.0 percent, moving from 104.5 to 105.5 between the two periods.

Three group indices recorded changes of more than 1.0 percent between March and April. These are Miscellaneous Goods & Services (5.3 percent), Transport (2.3 percent) and Housing, Water, Electricity. Gas & Other Fuels (1.5 percent).

The Miscellaneous Goods & Services index group moved from 104.5 to 110.1, recording an increase of 5.3 percent between March and April. This was mainly attributed to the rise in the section index of Insurance which recorded an increase of 11.8 percent.

The Transport group index went up from 104.9 to 107.4, recording a rise of 2.3 percent between the two months.  This was largely due to an increase in the constituent section index of Transport Services (11.3 percent). The rise in Transport Services section index was mainly due to an increase in Minibus and Taxis Fares from P3.50 to P4.00 and P3.90 to P5.00, respectively, while long distance bus fare (bitumen road) increased from P0.21 to P0.26 per kilometer. These changes were effected on the 1st April 2018.

The Housing, Water, Electricity. Gas & Other Fuels index group moved from 106.7 to 108.3, registering a rise of 1.5 percent between March and April. This was attributed to an increase in the constituent section index of Electricity Gas & Other Fuels, which rose by 7.0 percent. The rise in the Electricity, Gas & Other Fuels section index was largely due to the hike in the electricity tariffs by 10 percent for domestic consumers who consumed less than 200 kWh as well as those who consumed more than 200 kWh, which were effected on the 1st April 2018.

The Recreation & Culture index group moved from 103.4 to 104.0, recording an increase of 0.6 percent between March and April. The rise was attributed to the general increase in some section indices, notably Recreation & Cultural Services (2.3 percent).

The All-Tradable index advanced from 104.5 in March to 104.7 in April, registering an increase of 0.2 percent. The Non-Tradable index moved from 104.8 in March to 108.4 in April, recording an increase of 3.4 percent. The Domestic Tradable index moved from 103.2 in March to103.3 in April, registering an increase of 0.1 percent, while the Imported Tradable index rose by 0.2 percent between March and April, moving from 105.0 in March to 105.2 in April.

All-Tradable inflation rate was 2.1 percent in April, registering a drop of 0.1 of a percentage point on the March 2018 rate of 2.2 percent. The Non-Tradable inflation rate went up from 4.0 percent in March to 5.8 percent in April.  The Imported Tradable inflation rate remained constant at 3.1 percent between the two periods. 


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