C.P.I. for April remains unchanged
The Consumer Price Index (C.P.I.) for April 2021 remained unchanged compared to the previous month according to the Consumer Price Index April 2021 report released by the Samoa Bureau of Statistics.
While the C.P.I. for April registered no change from March 2021 it was 0.8 per cent lower than April 2020.
However, the average annual inflation for the year ended April 2021 was negative 3.9 per cent. For the twelve months ending April 2020 the inflation rate was 2.0 per cent.
The Consumer Price Index (C.P.I.) is a measure of the cost of household consumer goods and services and measures any rise or fall in their price. It also measures the rate of inflation in Samoa.
(The C.P.I. gives the government, businesses, and citizens an idea about prices changes in the economy, and can act as a guide in order to make informed decisions about the economy.)
According to the report, the decrease of the local goods component by 0.8 per cent reflects lower prices for local food; while the imported component recorded an increase of 0.7 per cent from the previous month; which was due to higher prices for fuel (petrol, diesel and kerosene).
The increases recorded for the transport index from the previous month registered 2.3 per cent, Housing, Water, Electricity Gas and Other Fuel with 1.3 per cent and Miscellaneous Goods and Services with 0.2 per cent.
On the contrary, food and non-alcoholic beverages index recorded a decrease of 1.2 per cent while Health and Furnishing, Household Equipment and Maintenance indices also registered decreases of 0.7 and 0.2 per cent respectively.
No changes were recorded for the all Items, alcoholic beverages and tobacco, clothing and footwear, communication, recreation and culture, education and restaurants indices.
Increased prices recorded for fuel (petrol, diesel and kerosene) have resulted in the 0.7 per cent increase in the imported good component.
Increased prices recorded for electricity (kwh) and kerosene is reflected in the 1.3 per cent increase in the Housing, Water, Electricity, Gas and other Fuels index.
Furthermore, a decrease of 1.2 per cent in the Food and Non Alcoholic Beverages index was a reflection of the lower prices recorded for taro, rice, fresh fish (piece and large), mutton flap, onion, stewing beef, koko samoa, banana, cucumber and head cabbage.
The 0.7 per cent decrease in the Health index influenced by the lower prices recorded for medicine (amoxicillin tablets).