Samoa records 1.4 per cent increase in C.P.I.

Samoa has recorded a 1.4 per cent increase in its Consumer Price Index (C.P.I.) for the month of June 2021 compared to the previous month.

The figure was revealed in a new report “Consumer Price Index June 2021” issued by the Samoa Bureau of Statistics.

The 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. It looks at 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.

According to the report, the C.P.I. June 2021 was 4.1 per cent higher than June 2020.

The 1.4 per cent increase in the Overall Index was mainly due to an increase of 9.4 per cent in the housing, water, electricity gas and other fuel index, while food and nonalcoholic beverages and recreation and culture indices both registered increases of 1.2 per cent.

However, the average annual inflation for the year ended June 2021 was negative 3.0 per cent.

“The average annual inflation rate for the year ended June 2021 was negative 3.0 per cent,” reads the report. 

“For the twelve months ending June 2020 the inflation rate was 1.5 per cent.

“The increase of the local goods component by 2.6 per cent from the previous month was due to higher prices for electricity (kwh) and local food, which were also the main contributors to the increase of 1.4 per cent in the All Items C.P.I.”

For the imported goods component, it also registered an increase of 0.2 per cent from the previous month and 6.3 per cent higher than June 2020.

While the clothing and footwear and alcoholic beverages and tobacco indices showed increases of 1.1 and 0.1 per cent respectively.

On the contrary, decreases were recorded for other divisions namely, Miscellaneous Goods and Services index with 1.6 per cent and Furnishing, Household Equipment and Maintenance index with 0.6 per cent. 

“No changes were recorded for the Health, Transport, Communication, Education and Restaurants indices.  

“The Local Goods Component of the Consumer Price Index registered an increase of 2.6 per cent when compared to the previous month. This increase was mainly due to higher prices recorded for electricity (kwh), taro, fresh fish (piece, string and large) and koko samoa.

“Increased prices recorded for running shoes and television (LCD) have resulted in the 0.2 per cent increase in the Imported Goods Component.”

Furthermore, the 9.4 per cent increase in the Housing, Water, Electricity, Gas and other Fuels index was a result of the higher prices recorded for electricity (kwh).