Consumer Price Index increase for 4th quarter of 2017

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The Consumer Price Index (CPI) of December, 2017 indicated an increase of (+0.1 %), according to the Statistics Update (SU) of the Vanuatu National Statistics Office (VNSO).

Port Vila slightly increased by (+0.3%) while Luganville dramatically decreased by (-1.2%), compared to the previous quarter, the SU says.

The expenditure group that contributed to the increase in the CPI were: Health (+1.1%), Clothing and Footwear and Transport (+0.8%) respectively, Food (+0.4%), Miscellaneous (+0.3%), Housing Supplies, Education and Communication remain constant.

However, the group that contributed to the decrease in price movement was Housing Utilities (-1.1%), Recreation (-0.9%) and Drinks and Tobacco (-0.1%).

“The main contributor in prices was due to the increases in price movements of purchasing of, formal and Island dress for woman, international Airline tickets, root crops, fruits and vegetables, in both regions and toiletries and personal care products in Port Vila.

The sub group that showed negative impact on the price movements was the purchase of electricity supply charges in Port Vila and Hiring of DVD disc in both regions,” the VNSO’s SU points out.

“When compared to the December quarter of 2016, the Vanuatu index increased by (+3.2%), Port Vila index increased by (+3.6%) and Luganville index slightly increased by (0.7%).

“At national level, the expenditure groups that contributed to the increase over the same quarter of last year were: Food (+6.4%), Transport (+6.3%), Education (+3.2%), Health (+1.3%), Clothing and Footwear, and Communication (+0.5%) each, Drinks and Tobacco, and Housing Utilities also contribute (+0.2%) respectively.

The increases in these expenditure groups were the result of increases in price movements of Root crops, Fruits and Vegetables, purchasing and hiring of motor vehicle, International airline tickets, charge of petroleum per litre and School Fees While the other groups that shows negative impact were Recreation (-2.0%), Household Supplies (0.5%) and miscellaneous (-0.4%).”

‘Underlying inflation’ is a measure derived from the CPI excluding items which typically have unstable or volatile prices; because of things like seasonal variation or policy decisions.

In December during the quarter of 2017, underlying inflation slightly decreased by (-0.1 %) over the previous quarter and increased by (+0.8%) over the same quarter of 2016, the SU concludes.

Jonas Cullwick, a former General Manager of VBTC is now a Senior Journalist with the Daily Post. Contact: jonas@dailypost.vu. Cell # 678 5460922

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