Consumer Price Index Latest News
CPI QUARTERLY MOVEMENT - QUARTER 4 2016
CPI QUARTERLY MOVEMENT
The Consumer Price Index (CPI) of December 2016 indicated a slight increase of (+0.3 %). Port Vila increased by (+0.6%), while Luganvillie index decreased by (-0.8%) compared to the previous quarter. The expenditure group that contributed to the increase in the CPI were: Food and Housing Supplies (+1.1%) respectively, Housing Utilities (+0.2%), Transport (+0.1%), however, Communication contributed a decrease of (-3.7%), Miscellaneous (-1.3%), Recreation (-1.1%) Clothing and Footwear contributed a decrease of (-0.2%), Drinks and Tobacco, Health, and Education all remained constant with (0.0%) respectively.
The main contributor in prices was due to the increases in price movements of Fruits and Vegetables, Furniture and furnishing, Electricity and Water supply charges in Port Vila, international airfares and purchasing of new motor vehicles Renting in both regions. However, the sub group that showed negative impact on the price movements were: purchasing of new mobile phones, woman's clothing and business shoes and personal accessories in both regions, Audio, Visual and computing equipment, in Luganvillie.
CPI ANNUAL MOVEMENT
When compared to the December quarter of 2015, the Vanuatu index increased by (+2.2%), Port Vila index increased by (+2.7%) while Luganvillie index slightly decreased (-0.1%). At national level, the expenditure groups that contributed to the increase over the same quarter of last year were: Food (+7.3%), Education (+4.7%), household supplies (+1.1%) and Transport (+0.1).
Thus, the increases in these expenditure groups were the result of increases in price movements of Fruits and Vegetables, school fees, Furniture and furnishing, and purchasing of new motor vehicle. However, the other groups that shows negative impact were Clothing and Footwear, and Communication (-4.3%) respectively, Housing Utilities (-3.6%), Miscellaneous (-1.4%), Recreation (-1.1%), Drinks and Tobacco (-0.3%), and Health (-0.2%).
'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 (-0.5 %) in December quarter of 2016 compared to the previous quarter September, 2016. In addition, it recorded an increase of (+1.4 %) over the same quarter of 2015.
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