Consumer Price Index Registers Minimal Increase in the Third Quarter
"The Consumer Price Index (CPI) for the quarter ending September 2012 increased by 0.05 percent compared to the quarter ending September 2011."The Consumer Price Index (CPI) for the quarter ending September 2012 increased by 0.05 percent compared to the quarter ending September 2011.
The benign inflation resulted despite increases in the general price levels for clothing and footwear (8.9%), food and non-alcoholic beverages (4.2%) and health (2.4%).
The increase in food prices was widespread, led by fish and seafood (9.7%), oils and fats (7.6%) and sugar, jam, honey, chocolate and confectionery (7.0%) and vegetables (6.5%).
Meanwhile, clothing and footwear prices were on the uptrend, with clothing apparel higher this quarter by 9.2 percent, and footwear by 7.3 percent.
The Hon. Premier and Minister of Finance, Mr. McKeeva Bush, noted ⫿the very low inflation is due to the 5.5 percent downward movement in the average cost of electricity, gas and other fuels.
Price declines were also recorded for the cost of actual rentals for housing (-2.1%) and imputed rentals for owner-occupied housing (-1.6%).