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Consumer Price Index

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27.APR.07

MARCH 2007

During the month of March, 2007, the Consumer Price Index registered a 0.9 percent decrease over the previous month. The “All Items” index stood at 113.7 compared with 114.7 for the month of February, 2007.{{more}} The “point-to-point” inflation rate was recorded at 3.9 percent. Further analysis revealed that four (4) groups recorded price increases during the month, namely; “Alcoholic Beverages and Tobacco” (0.5 percent), “Clothing and Footwear” (0.3 percent), “Household Furniture and Supplies” (0.1 percent), and “Personal Services” (1.1 percent). The groups “Food” (1.7 percent) and “Fuel and Light” (0.1 percent) recorded decreases, while, “Housing”, “Medical Care and Expenses”, “Transport and Communication”, “Education” and “Miscellaneous” remained unchanged. The “Food” index decreased by 1.7 percent reflecting lower prices for the following items; carrots (28.1 percent), tomatoes (21.6 percent), pumpkins (14.8), cabbages (13.3 percent), dasheens (9.5 percent), breadfruit (8.3 percent), tannias (8.4 percent) and sweet potatoes (4.5 percent). The “Fuel and Light” index recorded a marginal decrease during the month. The 0.5 percent increase in the “Alcoholic Beverages and Tobacco” group is attributed to an increase in the price for beer (8.8 percent), whereas, the group “Clothing and Footwear” rose by 0.3 percent due to increased price for clothing material (20.1 percent). Similarly, higher prices for transformer (13.9 percent) and laundry detergent (1.6 percent) were responsible for the change in the “Household Furniture and Supplies” index, whereas, the group “Personal Services” which recorded the largest increase of 1.1 percent grew due to increased price for toothpaste (2.7 percent).

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