CONSUMER PRICE INDEX - January 2015

[Base: Average 12 months 2011 = 100.0]

 

FBoS Release No: 02, 2015                                                                                                                       

04th February 2015


 

New Reference Period

 

The Consumer Price Index (CPI) has been re-referenced to an index reference base of 2011 = 100.0. This means that the 2011 Average Monthly Prices of the CPI basket of goods and services will have a base index of 100.0.

 

The Consumer Price Index [CPI] is compiled to indicate average changes in the prices of goods and services purchased by households nationwide with monthly price collections carried out in the urban areas [Suva, Lami, Nasinu, Nausori, Lautoka, Nadi, Ba and Labasa]. The index is currently taken to represent price changes in the rural areas as well. The CPI weights are derived from the Household Income and Expenditure Survey [HIES] of 2008/2009.

 

January 2015  Highlights

cpiJan15a cpiJan15b

The average annual rate of inflation for the twelve months to January 2015 [i.e. comparing the average CPI for the 12 months to January 2015 with the average for the 12 months to January   2014] stands at 0.4 per cent while the month – on-comparable - month inflation rate [compared with January 2014] stands at 0.3 per cent.      

The All Items CPI for the month of January 2015 registered an increase of 1.0 per cent over December 2014 [107.7] and stands at 108.7.

  

There are two measures of inflation used in Fiji.  One compares the average CPI over the past twelve months with the average CPI over the previous twelve months while the other compares the CPI in the current month with the CPI in the comparable month of the previous year. 

 

Details of price changes between December 2014 and January 2015 by expenditure groups are as follows:

 

FOOD AND NON-ALCOHOLIC BEVERAGES: +3.6%

Higher prices were recorded for bread & cereals, meats, oils & fats, vegetables and non-alcoholic beverages such as coffee, tea and mineral water & soft drinks.

 

ALCOHOLIC BEVERAGES, TOBACCO AND NARCOTICS: +0.1%

Higher prices were recorded for cigarettes and tobacco.

 

CLOTHING AND FOOTWEAR: +0.7%

Higher prices were recorded for garments and footwear.

 

HOUSING, WATER, ELECTRICITY, GAS AND OTHER FUELS: -0.6%

Lower prices were recorded for paints, gas, liquid fuels and solid fuels.

 

FURNISHINGS, HOUSEHOLD EQUIPMENT AND ROUTINE HOUSEHOLD MAINTENANCE: 0.0%

There were some price changes in this division but these changes balanced out.

 

HEALTH: +1.3%

Higher prices were recorded for medical services and paramedical services.

 

TRANSPORT: -0.6%

Lower prices were recorded for motor cars, bicycles and fuels & lubricants for personal transport equipment.

 

COMMUNICATION: 0.0%

There were some price changes in this division but these changes balanced out.

 

RECREATION AND CULTURE: +3.6%

Higher prices were recorded for photographic & cinematographic equipment, information processing equipment, recording media, major durables for indoor recreation, games, toys & hobbies, equipment for sport, camping & open air recreation, recreational and sporting activities, books and newspapers & periodicals.

 

EDUCATION: 0.0%

No price changes were recorded in this division.

 

RESTAURANTS AND HOTELS: -0.4%

Lower prices were recorded for accommodation services. 

 

MISCELLANEOUS GOODS AND SERVICES: +3.4%

Higher prices were recorded for hairdressing salons & personal grooming, other appliances, articles & products for personal care, jewellery, clocks & watches, other personal effects and other services not elsewhere classified. 

 

cpiJan15c           

 

In deriving the new indexes, the 2008 index was re-referenced to 2011 and a new index series was compiled and linked to the re-referenced index to form a continuous series.  Neither the re-referencing, i.e. changing the time reference base of the linked historical series nor the linking of the new series to the old series affects the month-to-month, or year-to-year, index movements except possibly for some trivial rounding differences which are not statistically significant.  The series of index number levels on the recent time reference base of 2011 is consistently and proportionately, lower than those on the reference base of 2008 due to changing the base period from 2008 to 2011.     

 

CLICK HERE FOR RELATED TABLES 

 

The index continues to cover price changes in the urban areas [Suva, Lami, Nausori, Lautoka, Nadi, Ba and Labasa] thus the structure and the classification of the index remains unchanged. 

 

For further enquiries please contact Mr. Sitiveni Sikivou on email or telephone 3230839. 

 

The Consumer Price Index for February 2015 will be released on 27th February, 2015.