CPI Posts Benign Increase in the First Quarter
"The Consumer Price Index (CPI) for the quarter ending March 2013 increased by 1.4 percent compared to the quarter ending March 2012."The Consumer Price Index (CPI) for the quarter ending March 2013 increased by 1.4 percent compared to the quarter ending March 2012.
⫿Despite higher prices for some consumer items, the overall inflation rate in the first quarter was benign due to a decline in the housing and utilities price index,??? noted the Minister for Finance and Economic Development Hon. Marco Archer. Actual rentals and imputed rentals for owner-occupied housing were lower in the first quarter of 2013 compared to the same period in 2012.
Significant price movements were recorded for alcohol and tobacco (14.0%), clothing and footwear (8.3%), household equipment (7.0%) and food & non-alcoholic beverages (3.3%). The sharp inflation for alcohol and tobacco is related to higher duty on tobacco in effect from September 2012.