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Consumer Price Index up by 0.5 percent in March



During the month of March, 2008, the Consumer Price Index registered a 0.5 percent increase over the month of February 2008. The “All Items” index stood at 126.9 compared with 126.3 for the previous month. The “point-to-point” inflation rate was recorded at 11.6 percent.{{more}}

Five (5) groups recorded price increases during the month, namely; “Food” (0.8 percent), “Clothing and Footwear” (0.2 percent), “Fuel and Light” (1.0 percent), “Household Furniture and Supplies” (0.01 percent) and “Persona Services” (0.1 percent). The group “Alcoholic Beverages and Tobacco” was the sole group to witness a decrease (0.2 percent). The other groups “Housing”, “Medical Care and Expenses”, “Transport and Communication”, “Education” and Miscellaneous” remained unchanged.

The 0.8 percent increase in the “Food” index reflected higher prices for several items, namely; oranges (16.4 percent), eddoes (8.2 percent), baby formula (8.2 percent), orange juice (6.1 percent), lentils (6.0 percent), evaporated milk (5.9 percent), pig feet (5.7 percent) and dasheens (5.1 percent, whole chicken (4.7 percent), sweet potatoes (4.6 percent) chicken back (3.5 percent).

The 0.2 percent increase in the “Clothing and Footwear” index is attributed to higher price for short sleeve shirt (6.4 percent), while, the growth in the “Household Furniture and Supplies” index is attributed to increased price for alkaline battery (1.7 percent).