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CPI QUARTERLY MOVEMENT - QUARTER 1    2017 

Fig 1CPI QUARTERLY MOVEMENT

The Consumer Price Index (CPI) of March, 2017 indicated a slight increase of (+0.7 %). Port Vila both increased slightly by (+0.7%) and (0.5%) respectively, compared to the previous quarter. The expenditure group that contributed to the increase in the CPI were: Education (+3.2%), Transport (+2.3%), Food (+1.4%), Communication (+0.5%), Recreation (+0.4%), Drinks and Tobacco (+0.2%), and Health (+0.1%), however, Housing Utilities and Miscellaneous contributed a decrease of (-1.1%), respectively, and Clothing and Footwear contributed a decrease of (-0.5%).

The main contributor in prices was due to the increases in price movements of Primary and secondary Private and Public School fees, Purchasing of Motor Vehicles, purchasing of Airline tickets, Fruits and Vegetables, and Mobile Phones, in both regions. However, the sub group that showed negative impact on the price movements were: purchasing of school Uniforms, Women and Men's footwear in Port Vila and personal accessories in Luganvillie.

CPI ANNUAL MOVEMENT

When compared to the March quarter of 2016, the Vanuatu index increased by (+2.1%), Port Vila index increased by (+2.8%) while Luganvillie index dramatically decreased by (-1.5%). At national level, the expenditure groups that contributed to the increase over the same quarter of last year were: Food (+6.3%), Education (+3.2%), and Transport (+2.7%), Drinks and Tabacoo and Health (+0.1%) respectively.

Thus, the increases in these expenditure groups were the result of increases in price movements of Fruits and Vegetables, school fees, and purchasing of new motor vehicle and airline tickets. However, the other groups that shows negative impact were Communication (-4.1%), Clothing and Footwear (-3.4%), Miscellaneous (-2.3%), Housing Utilities (-1.7%), and Recreation (-0.7%). 


Underlying  Inflation 

'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. Underlying inflation decrease by (-0.2 %) in March quarter of 2017 compared to the previous quarter December,2016. In addition, it also recorded decrease of (0.8 %) over the same quarter of 2016.

 

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