PHIIPSBURG--Consumers have had to dig deeper into their pockets for certain commodities between August and October.
The Department of Statistics STAT announced on Wednesday that the consumer price index for St. Maarten has increased by 0.3 per cent in October in comparison to August. STAT said when comparing average consumer prices over a twelve month period (October 2010 to October 2011), an increase of 3.9 per cent was recorded compared to the same period a year earlier. The rate of inflation has shown steady growth since April 2011. The price index recorded in October 2011 is 117.8.
Expenditure categories
In October 2011, six of the nine expenditure categories have become more expensive, whilst two expenditure categories have become cheaper.
Items that have become more expensive are food (+5.5 per cent), beverages and tobacco (+2.5 per cent), clothing and footwear (+1.4 per cent), household furnishing and appliances (+0.7 per cent), Medical Care (+0.8 per cent) recreation and education (+0.2 per cent) and miscellaneous (+0.4 per cent). Items that have become ?slightly cheaper? were housing (-0.6 per cent) and transport and communication (-.5 per cent).
A Closer Look
The categories with the largest influence in the basket were food (10 per cent), housing (39 per cent) and transport and communication (20 per cent).
Even though the expenditure category ?Food? has the third largest weight factor; it recorded the largest price increase (+5.5 per cent) in October compared to August 2011 and had the largest overall influence on the total index.
The expenditure category ?clothing and footwear? has a less significant impact (7 per cent) on the total index; however, it recorded the second largest price increase (+2.5 per cent) in October compared August 2011.
Food
Within the expenditure category - Food, it can be noted all the nine food groups became more expensive. The following increases were recorded in each food group; grain (+2.6 per cent), meat and fish (+7.7 per cent), fats and oils (+2.7 per cent), dairy products (+4.5 per cent), potatoes, vegetables and fruit (+9.9 per cent), sugar and chocolate (+2.4 per cent), pre-cooked dishes (+0.4 per cent) eating-out (+3.8 per cent) and other food resources (+3.8 per cent).
More specifically, the following products largely influenced the total price change within the food group: grains largely influenced by: brown bread (+12.6 per cent), biscuits (+18.9 per cent), pasta (+4.8 per cent) and cereal (+3.4 per cent).
The food group ?meat and fish? was largely influenced by: beef (+12.3 per cent), Steak (- 0.6 per cent), boneless pork meat (+13.9 per cent), pork loin (+25 per cent), ham (-3.3 per cent), chicken and chicken organs (+3.5 per cent), pigtail (+11.7 per cent), fish (+58 per cent), salted fish (+17.4 per cent) and other shellfish (+33.4 per cent).
The food group ?fats and oils? was largely influenced by cooking oil (+3.5 per cent). The food group dairy products was largely influenced by canned milk (+6.9 per cent), milk powder (+4.7 per cent), cheese (+3.7 per cent) and eggs (+18.1 per cent).
The food group potatoes, vegetables and fruit was largely influenced by: cabbage (+12 per cent), legumes and green beans (+38.6 per cent), carrots (-7.5 per cent), onions and garlic (+13.7 per cent), tomatoes (+26.6 per cent), paprika (+6.6 per cent), other vegetables (56.7 per cent), frozen vegetables (+11 per cent), apples and pears (+19 per cent) miscellaneous citrus fruit (+118 per cent), other fresh fruit (+10.5 per cent) and raisins (+9 per cent).
The food group sugar and chocolate was largely influenced by: sugar (+5.2 per cent).
Housing
Three of the five product groups within the expenditure category ?Housing? became more expensive whilst one remain unchanged and one became cheaper.
Amongst the more expensive were the product groups Dwelling cost (+0.4 per cent), and House maintenance (+0.2 per cent), Garden maintenance (+18.2 per cent) whilst, Energy expenses (-5.0 per cent) became cheaper.
The products Electricity (-6 per cent) largely influenced the total price percentage change recorded in the product group Energy Usage. The product group Garden Maintenance was largely influenced by fertiliser and soil (+65.5 per cent).
Transport and communication
Within the expenditure category Transport and Communication two of the four product groups became cheaper whilst two remain unchanged.
The product group ?Vehicle Expenses? decreased by 4.8 per cent and ?Communication? decreased by 0.5 per cent. The price change in Gasoline (-12.4 per cent), Diesel (-7.7 per cent), Motor Oil (-2.9 per cent) and Grease (+36.2 per cent) largely influenced the total price change within the product group Vehicle Expenses. The product group Communication was largely influenced by: Mobile phones (-22.9 per cent).
Long-term inflation
The 12 month average of consumer prices was 3.9 per cent higher in October, 2011 than in October, 2010. This represents an increase in the inflation rate of 2.63 per cent within the mentioned period.
All nine expenditure categories recorded inflation in October, 2011. Housing at a rate of 4.4 percent, which is the category with the largest influence (39 per cent), Transportation and Communication at a rate of 4.0 per cent, which is the second largest category (20 per cent) and Food prices inflated at a rate of 6.8 per cent, which is the third largest category (10 per cent) STAT stated.
Middle East Wolverhampton Wanderers Lee Cattermole Pakistan cricket team Vladimir Putin North and Central America
No comments:
Post a Comment