The Statistics Division’s most recent Consumer Price Index (CPI) report – for February 2022 – is confirming that the annual inflation rate has been steadily rising, and that month has seen the largest increase since February 2012.
The Division says the All Items index rose 4.5% for the 12 months ending February 2022, with the Food index rising 8.9% over the year, with all nine food-group indexes increasing, as well.
The index for Fruit continues on its increase, up to 26.3% over the last year, as both the indexes for fresh and chilled and that of frozen, preserved, or processed fruits increased 26.0% and 28.0%, respectively.
In January 2022, the index of fruits rose 18.9% over the year.
The index for meat and meat products rose 15.1% when compared to its January figure of 12.1%. The Division says that all of its components increased, except for lamb, mutton, and goat which fell 4.4%.
“The index for fish and seafood increased by 7.8%. Other major food groups also rose over the year, with increases ranging from 3.3% for milk, cheese, and eggs to 19.9% for oils and fats,” the Division reportsv.
The Index for alcoholic beverages, tobacco, and narcotics increased 10.1%, and the index for housing, furnishings, household equipment, and routine maintenance increased by 8.0.
However, the Energy Index remained unchanged over the past 12 months for all major components – gasoline at the pump, LPG cooking gas, and fuel variation rate (electricity).
However, in its Month-to-Month Price Changes, the Division says the index for All Items Less Food and Energy rose 1.3% in February following a 2.3% increase the previous month.
The Monthly Consumer Price Index increased by 1.2% for the month ending February 2022, with the Food index rising 1.3% in February.