CPI up by 15 per cent in September
By Alexander Rheeney
•
24 October 2022, 11:42PM
The Consumer Price Index (CPI) for September has increased by 15.3 per cent when compared to the same period last year, Samoa Bureau of Statistics (S.B.S.) data shows.
The latest data on the CPI was uploaded to the bureau's website as part of a report on the Consumer Price Index for September 2022. The report showed that there were increases across the board for the communication index (up by 28.4 per cent), food and non-alcoholic beverages (up by 23.4 per cent) and transport (up by 21.6 per cent).
The average annual inflation for the year ended September 2022 was 11.0 per cent while the CPI rose 0.2 per cent from August 2022.
According to the S.B.S. report the increases were "mainly influenced" by the rise in the imported goods component of 21.0 per cent from the same month last year, driven by the higher prices for fuel, imported food, building material, toiletries, washing soap and mosquito repellent products.
"The Local goods component also contributed to the increase when it went up by 9.1 per cent on a year-on-year basis, due to higher prices for local food and meals, phone calls, internet and airline fares," reads the bureau report.
The bureau's report said food and non-alcoholic beverages was the largest contributor to the 15.3 per cent rise in the CPI for September 2022, with a contribution of 9.9 percentage-points to the overall increase in September 2022.
"The most significant drivers of this within the group were taamu and cooking oil which more than doubled their prices in September 2021," added the bureau report.
"Other products which contributed to the increase were chicken leg quarter (up 41.6 per cent), taro (up 60.3 per cent), fresh fish (up 36.9 per cent), turkey wing (up 37.6 per cent), ripe banana (up 45.8 per cent) and green banana (52.5 per cent).
"The next largest contributor was transport with a contribution of 3.3 percentage-points, increasing 21.6 per cent compared to September 2021.
"The greatest drivers of this increase were petrol (up 31.2 per cent), airline fares (up 71.4 per cent) and diesel (up 52.6 per cent). Communication also contributed 1.4 percentage points due to the increase in internet and mobile phone calling per minute."
By Alexander Rheeney
•
24 October 2022, 11:42PM