Samoa records 1.3 per cent increase in C.P.I.
Samoa recorded a 1.3 per cent increase for its Consumer Price Index [C.P.I.] for the month of July 2020 compared to the previous month.
The figure was revealed in a new report “Consumer Price Index July 2020” issued by the Samoa Bureau of Statistics last week.
According to the report, the C.P.I. for July 2020 was 1.3 per cent higher than June 2020 and was 3.5 per cent lower than July 2019.
The 1.3 per cent increase in the Overall Index was mainly due to an increase of 2.3 per cent in the Food and Non Alcoholic Beverages Index, while Alcoholic Beverages and Tobacco and Transport indices registered increases of 1.4 and 1.1 percent respectively.
The average annual inflation rate for the year ended July 2020 was 1.1 per cent. For the 12 months ending July 2019 the inflation rate was 1.7 per cent.
The increase of the Imported Goods Component by 1.7 per cent from the previous month was due to higher prices for imported food and fuel [petrol], which were also the main contributors to an increase of 1.3 per cent in the All Items Consumer Price Index.
It also added that the Local Goods Component also registered an increase of 0.9 per cent from the previous month.
On the contrary, decreases were recorded for other divisions namely furnishing, household equipment and maintenance index with 0.8 per cent and clothing and footwear index with 0.1 per cent.
No changes were recorded for the housing, water, electricity gas and other fuel, health, communication, recreation and culture, education, restaurants and miscellaneous goods and services indices.
The Imported Goods Component of the Consumer Price Index registered an increase of 1.7 per cent when compared to the previous month. This increase was mainly due to higher prices recorded for imported food, fuel [petrol], paint [plus 2 plastic] and timber.
Increased prices recorded for local beer and cigarettes, taro, fresh fish (piece, and large), salted beef, stewing beef, koko samoa and head cabbage have resulted in the 0.9 per cent increase in the local Goods Component.
An increase of 2.3 per cent in the Food and Non Alcoholic Beverages index was a reflection of the higher prices recorded for chicken leg quarter, taro, fresh fish [piece and large], mutton flap, canned fish [natural oil], salted beef, stewing beef, koko samoa, corned beef and head cabbage.
The Alcoholic Beverages and Tobacco index recorded an increase of 1.4 per cent due to increased prices recorded for local beer and cigarettes [Pall Mall Filter and Menthol].
Higher prices recorded for fuel [petrol] is reflected in the 1.1 per cent increase in the Transport index.
The 0.8 per cent decrease in the Furnishings, Household Equipment, and Maintenance index was a result of the lower prices recorded for washing powder, washing soap and batteries.
The All Items Underlying Index for July 2020 registered an increase of 1.3 per cent when compared to June 2020, and a decrease of 0.3 per cent when compared to July 2019. The Imported Items Underlying Index registered an increase of 1.7 per cent, while Local Items Underlying Index also recorded an increase of 0.5 per cent.
The Consumer Price [C.P.I.] measures the rate of inflation for Samoa. It is designed to measure the change in prices for the goods purchased by households in Samoa. The C.P.I. measures the change in prices by comparing the prices for a basket of goods and services at the collection period with the price for the same goods in a base period.