Food Prices Still Going up

Details

Economy

Wednesday, 15 August 2012 02:30

By caribarena news

Antigua St. John’s – The Statistics Division’s monthly circulation of the Consumer Price Index has placed the annual rate of inflation for July 2012 at 3.5 per cent, with an overall 4.9 per cent increase in food for the twelve-month period from July 2011.

The Fuel and Light index also moved upwards by 10.6 per cent over the same twelve-month period, with the fuel variation rate increasing from 73 cents in July 2011 to 82 cents in July 2012.
 
However, there were decreases in some categories, such as Clothing and Footwear which dropped 2.0 per cent as there was an average price reduction for all categories of clothing apparel.
 
Infants’ clothing recorded the largest decline of 13.2 per cent. This was a result of price reduction in infant vests and play suits.
 
In the Food category, the average price changes for Dairy products increased by 14.7 per cent; Fats and Oils by 11.9 per cent; and Food N.E.S (not elsewhere specified) by
5.8 per cent. The Sugar, Jams and Confectionery, and Fruits and Vegetables sub-categories went up by 2.7 per cent.
 

The average price recorded for evaporated milk moved upwards from $3.05 to $3.98 while cooking margarine increased from $6.07 to $6.66. Salt, seasonings and tomato paste all recorded increases.
 
The Furnishings, Supplies and Operations index recorded an increase of 8.9 per cent, which was attributed to price increases in appliances.

Average price changes for televisions went up as flat screen models were substituted. Increases were also recorded for sofas and dining sets.



There was a 0.3 per cent increase in the All Item index between June and July 2012. The index for the Food category had an increase of 0.7% percentage point between the same period.

This was related to increases in the Fruit and Vegetables and Meat category.

Operations of Personal Equipment, a sub-category of Transportation and Communication, increased by 1.9 per cent due to price increases resulting from
newer model motor vehicles.
 
Within Private Practitioners, drugs and medicals had an increase of 1.8 per cent due to average price increases for antibiotic ointments and embrocation cream (joint and muscle cream).
 

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