Consumer Price Index confirms what shoppers have been feeling – a whopping 7.7% overall price increase in last 12 months
The rising prices of airline fares, cellular phones, meals outside the
home, and clothing and footwear are being cited as factors that
contributed to the increase in the All-Items Index over a 12-month
period.
Antigua and Barbuda saw the largest 12-month increase in prices –
a whopping 7.7% – since the December 2022 increase of 4.5%,
according to figures released in the Consumer Price Index (CPI) for
April 2023.
The Statistics Division published the latest CPI on Tuesday, June 27,
confirming what consumers say they already knew.
The index for food and non-alcoholic beverages increased 10.1%,
with the food index increasing 10.7% over the last 12 months, as
supermarket shoppers confirm they were clearly feeling the
squeeze.
According to the Division, all nine food-subcategories rose over the
12 months, as the increase was driven by price hikes in bread and
cereals (+10.8%), meat and meat products (+10.1%) and vegetables
(7.8%).
The indexes for N.E.C. and sugar, jams, honey, chocolate and
confectionery rose by 19.4% over the past months, while fruit
jumped by +4.0% and oils and fats by 15.2%.
Reportedly, core inflation (All Items Less Food and Energy index)
rose 8.5% over the past 12 months and accounts for 81.2% of the
total increase in the All Items index.
The increase, officials say, was driven primarily by five indexes:
transport services (+45.7%); communication (+14.4%); clothing
and footwear (+12.2%); furnishings, household equipment and
routine household maintenance (+4.6%); and restaurants and hotels
(+19.7%).
Meanwhile, the Monthly Consumer Price Index increased by 4.0%
for the month ending March 2023.
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 of the goods and services bought by most
households, on average, from month to month and from year to
year.
Prices are collected monthly and quarterly from supermarkets and
other suppliers of goods and services.
