Statistics Division confirms steep rise in cost of goods, with almost 10% hike in meat and poultry

Another report by the Statistics Division shows that the prices of meat and poultry have increased  by almost 10 percent since the start of 2021.

In its Consumer Price Index (CPI) report for October 2021, the Year-on-Year Analysis indicates that the index for meat and meat products rose 8.1 percent, with delicatessen and other meat preparations increasing 13.3 percent.  

The poultry index, meanwhile, rose by 9.2 percent.

The All Items Index rose 2.9 percent over 12 months, with the Food Index rising 0.7 percent over the same period among the  five supermarket food groups.

The Division says that prices were collected within the first two weeks of October; hence, any subsequent changes will be reflected in the November publication, already expected to show an increase.

Other major food-group indexes also increased over the last 12 months.  These range from +3.3 percent for milk, cheese, and eggs to +9.4 percent for oils and fats.

On other items, communication went up by  +20.8 percent; clothing and footwear by +8.0 percent; and transport by +7.1 percent.

Indexes that rose by less “include alcoholic beverages [at] +5.6%; restaurant and hotels, +3.4%; and health, +3.0%,” the report says.

The index for vegetables also increased 3.4 percent in October, following a decline of 2.3 percent in September, and there were also hikes for fish, seafood, and pork.

On the other hand, recreation and culture; furnishings; household equipment; and routine household maintenance underwent declines, which could be due to the COVID-19 pandemic.

The Monthly Consumer Price Index increased 1.4 percent for October, while the Food Index increased 1.0 percent.

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, the Division says.