CONSUMER PRICE INDEX - August 2016

FBoS Release No: 46, 2016
31st August 2016


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.

August 2016 Highlights

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The average annual rate of inflation for the twelve months to August 2016 [i.e. comparing the average CPI for the 12 months to August 2016 with the average for the 12 months to August 2015] stands at 2.8 per cent while the month – on-comparable - month inflation rate [compared with August 2015] stands at 5.9 per cent.

The All Items CPI for the month of August registered an increase of 0.5 per cent over July 2016 [113.8] and stands at 114.4.

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 July 2016 and August 2016 by expenditure class are as follows:

 

FOOD AND NON-ALCOHOLIC BEVERAGES: +0.1%

Higher prices were recorded for meat, fish sea food, fruits, vegetables and non-alcoholic beverages such as tea milo and soft drinks. 

ALCOHOLIC BEVERAGES, TOBACCO AND NARCOTICS: +3.7%

Higher prices were recorded for spirits and yaqona. 

CLOTHING AND FOOTWEAR: -0.6%

Lower prices were recorded for garments and shoes other footwear. 

HOUSING, WATER, ELECTRICITY, GAS AND OTHER FUELS: +0.3%

Higher prices were recorded for liquid fuels. 

FURNISHINGS, HOUSEHOLD EQUIPMENT AND ROUTINE HOUSEHOLD MAINTENANCE: -0.1%

Lower prices were recorded for furniture furnishings and household textiles. 

HEALTH: -0.2%

Lower prices were recorded for pharmaceutical products. 

TRANSPORT: 0.0%

Some price changes were recorded in this division but these balanced out. 

COMMUNICATION: 0.0%

Some price changes were recorded in this division but these balanced out. 

RECREATION AND CULTURE: -0.9%

Lower prices were recorded for equipment for reception, recording reproduction of sound picture, information processing equipment, equipment for sport, camping open air recreation and stationery. 

EDUCATION: 0.0%

No price changes were recorded in this division. 

RESTAURANTS AND HOTELS: 0.0%

No price changes were recorded in this division. 

MISCELLANEOUS GOODS AND SERVICES: +0.1%

Higher prices were recorded for other appliances, articles products for personal care, jewellery, clocks watches and other personal effects.

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For further enquiries please contact Mr Sitiveni Sikivou on email or telephone 331 5822 (ext. 386 239) or direct line 323 0839.

The Consumer Price Index for September 2016 will be released at the end of September, 2016.