Import prices increase for June quarter

The import prices for mineral fuel products in the June 2019 quarter increased 15.9 percent contributing to the 5.6 percent increase in import price index.

The increase is highlighted in the Samoa Bureau of Statistics import price index report for the June 2019 quarter compared to the March 2019 quarter.

A decrease in import prices was recorded for live animals and animal products, which dropped 7.0 percent from the previous quarter; food and beverages dropped 2.0 percent; and vegetable products by 3.7 percent. 

Animal or vegetable fats and oil prices increased 4.1 percent.

The decrease in import prices for live animals and animal products was driven by lower prices of meat products, which dropped 8.9 percent, reflecting lower prices of sheep meat (down 10.8 percent) and chicken meat (down 5.9 percent). 

Dairy products prices also dropped by 1.6 percent, with eggs down by 10.4 percent. 

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The overall live animals and animal products index decreased 1.3 percent for the four quarters ending June 2019 when compared to the four quarters ending June 2018. 

The decline in the import prices for vegetable products was influenced by lower prices of vegetable (down 19.4 percent), reflecting lower prices of potatoes (down 24.7 percent) and onions (down 11.7 percent). 

For imported food and beverages merchandises, the fall in import prices was driven by lower sugar prices (down 10.2 percent). When compared to the June 2018 quarter, the current food and beverages index decreased 4.9 percent. 

Overall food and beverage index decreased 2.0 percent for the June 2019 quarter over the four quarter of the same period last year. 

The increase in the price of imported vegetable fats and oil was driven by higher prices of margarine (up 11.4 percent). When compared to the June 2018 quarter, the current index increased 4.3 percent. 

The four quarters ending June 2019 showed a 1.6 increase in the overall animal, vegetable fats and oils index when compared to the same period last year. 

Compared to the June 2018 quarter, the current import price index increased 0.2 percent, said the report. 

The four quarter ending June 2019 showed a 7.6 percent increase in the overall import price index compared with the four quarters ending June 2018 quarter. 

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