Economy

Consumer Price Index (CPI)

  • Author: Lamin L. Dibba, Principal Statistician
  • Published: October 2, 2017 4:52 pm

Consumer Price Index (CPI) is a measure of the change in the cost of a fixed basket of products and services relative to a based year. It is a major contributory variable to the computation of inflation in a country. CPI is a more direct measure of the standard of living than the GDP.

The overall month-to-month variations in prices of basic commodities in the CPI basket has been somewhat mild as prices have not experienced major changes over the period.

Year-on-year overall index has by 8.4% from June 2016 to June 2017 with a corresponding Food and Non Alcoholic Beverages increased by 9.0%.

During this period, Meat and Fish had the highest increases in their indices with 11.5% and 13.1% respectively. Other products with significant year-on-year increase were Milk, Cheese and Eggs products (8.3%), Oils and Fats (8.3%) and Fruits & nuts (9.0%). 

For the Non-food items products and services, the year-on-year increase in the index for Clothing and textiles was 9.3. Repair and Hire of clothing and Footwear increased the highest in this category over the period June 2016 and 2017 with respectively percentage increases of 14.6% and 13.6%.

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