Inflation Rate Up Over Four Percent

Details

Economy

Wednesday, 30 May 2012 02:30

By caribarena news

Antigua St John's - The annual rate of inflation was measured at 4.4 percent in April, and food prices increased by 4.1 percent over the 12-month period from April 2011, according to the latest figures from the Statistics Division.

This was due to increased prices within various food sub-categories. Average price increase were recorded for ground beef, oxtail, lard, margarine, and milk.

Furnishings, Supplies and Operations recorded an increase of 10.0 percent, attributed to average price increases in sofas and televisions.

The Fuel and Light index increased by 9.0 percent related to an increase in the fuel variation rate from $0.70 in April 2011 to $0.80 in April 2012.

The Transportation and Communication category registered a 3.8 percent increase over the same period. This was attributed to a price increase in gasoline at the pump from $13.99 to $14.99 and price increases in vehicle operations and repairs (passenger vans and tune-ups).

The index for the Food category increased by 1.6 percent between March 2012 and April 2012. The meat category had an increase of 1.2 percent, due to price.

increases in the meat sub-categories. Lamb prices increased by 15.3 percent, attributed to higher average prices for lamb chop and beef (beef liver and ground beef).

Milk, a sub-category within dairy products, increased by 3.1 percent. Increases were recorded for evaporated milk and ice cream.

The Fruits and Vegetables category recorded an increase of 5.1 percent. This increase was related to average price increase in grapes, apples, broccoli, and frozen vegetables.

The Fuel and Light category recorded an increase of 2.5 percent due to an increase in the fuel variation rate from $0.77 in March 2012 to $0.80 in April 2012.

Personal Servces index recorded a decrease of 8.2 percent, attributed to average price decrease in manicure, laundry, and facial services.

• < Prev
• Next >