The cost of importing goods into Samoa for the June 2021 quarter rose by more than 10 per cent, a report by the Samoa Bureau of Statistics shows.

The report “Import Price Index-June 2021 Quarter” authored by the S.B.S. monitors changes to the cost, insurance and freight prices of merchandise that are imported into Samoa by the various businesses.

According to the report, the 10.6 per cent import price index increase for June was driven by a 25.4 per cent increase in the price of mineral products such as petroleum oils (up 24.7 per cent) and petroleum gases (up 33.4 per cent).

“In addition the June 2021 quarter is 13.7 per cent higher compared to the June 2020 quarter,” states the report.

The four-quarters ending June 2021 decreased by 6.9 per cent in the overall import price index when compared to the four-quarters ending June 2020.

The import price for live animal products in the June 2021 quarter rose by 8.3 per cent. 

This was led by meat products (up 12.5 per cent), reflecting higher prices of chicken meat (up 15.6 per cent).

The prices for powder milk and butter both increased by 0.4 per cent respectively as well as cheese (up 0.6 per cent). When compared to the June 2020 quarter, the live animals and animal product index increased 7.9 per cent.

The four-quarters ending June 2021 showed an increase of 0.9 per cent in the overall index for live animals and animal products over the four-quarters ending June 2020. 

However, the import price for vegetable products in the June 2021 quarter decreased by 7.9 per cent over the previous quarter. 

“This fall was mainly due to lower import prices of vegetables such as potatoes and onions (down 28 per cent), rice (down 2.4 per cent) and milled products (down 0.1 per cent),” states the report.

“On the other hand, the vegetable products index increased 7.1 per cent when compared to the same quarter last year. 

“The four-quarters ending June 2021, increased 6.6 per cent in the overall index compared to the four-quarters ending June 2020.

“Animals or Vegetable fats and oils import prices fell 2.1 per cent in the June 2021 quarter. “The decline was influenced by lower prices of sunflower oils (down 2.4 per cent) and margarine (down 5.6 per cent). 

“In comparison with the June 2020 quarter, the animal or vegetable fats and oils index increased 0.9 per cent.”

Also the four-quarters ending June 2021 decreased 1.5 per cent when compared to the four-quarters ending June 2020.

“In the June 2021 quarter, the Food and Beverage import price index rose 3.9 per cent compared to the previous quarter. 

“This increase was influenced by higher prices of sugar (up 17.5 per cent) and canned meats (up 3.8 per cent) reflecting higher prices of canned fish, (up 7.8 per cent). 

“On the other hand, the food and beverage index was 2.7 per cent lower when compared to the corresponding quarter of 2020.

“Reviewing the four-quarters ending June 2021 over the same period ending June 2020, the overall Food and Beverage index increased 4.7 per cent.”

The import price for mineral products rose by 25.4 per cent in the June 2021 quarter. This increase was influenced by higher prices of petroleum oils (up 24.7 per cent) and petroleum gases (up 33.4 per cent). 

When compared to the June 2020 quarter, the mineral products index increased 36.8 per cent. The four-quarters ending June 2021 declined 22.3 per cent over the four-quarters ending June 2020.