TOURISM PRICE INDEX THIRD QUARTER 2004
Introduction
As the summer draws to a close, the Tourism Price Index (TPI) for the
third quarter of 2004 stood at 148.93 up 0.36 percentage points when
compared to that of June 2004 which stood at 148.40. A year earlier
(September 2003) the index stood at 130.33.
Subgroup Comparison
The quarterly comparison of the TPI subgroups showed declines in two
out of seven subgroups due to seasonality. Food, Beverage &
Tobacco fell by 0.01 percent while, Transportation dropped by 0.71
percent. On the other hand there was an increase in two other subgroups
namely Accommodation which went up by 0.62 percent and Clothing & Jewelry
increased by 0.06 percent. Package
Travel subgroup, Recreation & Sporting Activities subgroup and
Miscellaneous all remained unchanged for the period in review.
Annual
An annual comparison indicated an increase in all the
subgroups except
for Clothing & Jewelry and Transportation which fell by 2.02 and
0.77percent respectively. The other subgroups which had an increase
were Package Travel by 48.62 percent, Accommodation by 14.65 percent,
Food Beverage & Tobacco by 2.61 percent. Recreation
and Sporting by 8.98 percent. Miscellaneous Tourism Expenses,
the last of the subgroup, increased by7.64 percent
Rate of inflation
The rate of the TPI inflation stood at a quarterly rate of 0.36and an annual rate of
14.27 percent .
TOURISM PRICE INDEX QUARTERLY COMPARISON
(March 1999=100)
| SUBGROUP |
WEIGHT |
SEPT.
2004
INDEX |
JUNE
2003
INDEX |
QUARTERLY
COMPARISON |
SEPT
2003
INDEX |
ANNUAL
COMPARISON |
| Package
Travel |
14.36 |
124.42 |
124.42 |
0.00 |
83.72 |
48.62 |
| Accommodation |
56.20 |
162.17 |
161.17 |
0.62 |
141.45 |
14.65 |
| Food &
Beverage |
18.21 |
130.20 |
130.22 |
-0.01 |
126.89 |
2.61 |
| Clothing
and Jewelry |
1.72 |
215.52 |
215.40 |
0.06 |
219.96 |
-2.02 |
| Transportation |
4.03 |
111.20 |
111.99 |
-0.71 |
112.06 |
-0.77 |
| Recreation
and Sporting Activities |
2.49 |
167.71 |
167.71 |
0.00 |
153.89 |
8.89 |
| Miscellaneous |
2.99 |
128.64 |
128.64 |
0.00 |
119.51 |
7.64 |
| All
Groups |
100.0 |
148.93 |
148.40 |
0.36 |
130.33 |
14.27 |
TABLE 2
QUARTERLY AND ANNUAL CHANGES IN THE AVERAGE RETAIL PRICES
FOR A SELECTED BASKET OF GOODS AND SERVICES
(US DOLLARS)
| |
Quarterly Comparison |
Annual Comparison |
| Items |
Sept.
2004 |
June
2003 |
Price
Change |
%
Change |
Sept.
2003 |
Price
Change |
% Change |
|
Package Travel/Package Tour |
| 1 |
Sail-Away the BVI |
1,620.00 |
1,670.00 |
0.00 |
0.00 |
1,090.00 |
530.00 |
48.62 |
|
ACCOMMODATION |
| 1 |
Average Room Rates |
403.94 |
403.94 |
0.00 |
0.00 |
344.01 |
59.93 |
17.42 |
| 2 |
Charter a Boat |
478.87 |
464.33 |
14.53 |
3.13 |
404.72 |
38.15 |
8.66 |
| FOOD,
BEVERAGES AND TOBACCO |
| 1 |
Food and Meals at hotel |
66.10 |
66.10 |
0.00 |
0.00 |
66.10 |
0.00 |
0.00 |
| 2 |
Food and Meals outside Hotel |
| 2a |
Breakfast |
8.75 |
8.75 |
0.00 |
- |
8.75 |
0.00 |
0.00 |
| 2b |
Lunch |
11.32 |
11.32 |
0.00 |
- |
11.46 |
-0.14 |
-1.23 |
| 2c |
Dinner |
31.24 |
31.24 |
0.00 |
- |
30.25 |
0.99 |
3.27 |
| 3 |
Yacht & Guest
House Provisioning |
| |
Food and Beverage ( Price Index) |
122.00 |
122.00 |
0.00 |
0.00 |
120.80 |
1.20 |
0.99 |
| |
Household Supplies (Price index) |
156.00 |
156.00 |
0.00 |
0.00 |
155.10 |
0.90 |
0.58 |
| |
Miscellaneous (Price Index) |
133.80 |
133.80 |
0.00 |
0.00 |
132.50 |
1.30 |
0.98 |
| CLOTHING
& JEWELRY |
| CLOTHING |
| 1 |
T-Shirts |
13.75 |
13.75 |
0.00 |
0.00 |
14.32 |
-0.57 |
-4.00 |
| 2 |
Man's and boy's pants |
26.50 |
26.50 |
0.00 |
0.00 |
22.83 |
3.67 |
16.05 |
| 3 |
Ladies and girl's dress |
65.00 |
65.00 |
0.00 |
0.00 |
65.00 |
0.00 |
0.00 |
| JEWELRY |
| 4 |
Watches |
196.67 |
196.67 |
0.00 |
0.00 |
196.65 |
0.02 |
0.01 |
| 5 |
Rings |
420.00 |
420.00 |
0.00 |
0.00 |
435.00 |
-15.00 |
-3.45 |
| TRANSPORTATION |
| 1 |
Taxi Fare |
18.00 |
18.00 |
0.00 |
0.00 |
18.00 |
0.00 |
0.00 |
| 2 |
Boat Fare |
19.50 |
19.50 |
0.00 |
0.00 |
20.00 |
-0.50 |
-2.50 |
| 3 |
Island Tour per person |
17.50 |
17.50 |
0.00 |
0.00 |
17.50 |
0.00 |
0.00 |
| 4 |
Car Rental (Average) |
51.07 |
51.07 |
0.00 |
0.00 |
10.00 |
0.00 |
0.00 |
| 5 |
Temporary Driving License |
10.00 |
10.00 |
0.00 |
0.00 |
10.00 |
0.00 |
0.00 |
| 6 |
Gasoline |
2.42 |
2.53 |
-0.11 |
-4.26 |
2.35 |
0.07 |
2.87 |
| RECREATION
& SPORTING ACTIVITIES |
| 1 |
Entertainment Recreation |
19.00 |
19.00 |
0.00 |
0.00 |
22.00 |
-3.00 |
-13.64 |
| 1 |
Sports Fishing Activities |
550.00 |
550.00 |
0.00 |
0.00 |
255.83 |
294.17 |
114.99 |
| 2 |
Day Trip |
76.00 |
76.00 |
0.00 |
0.00 |
75.00 |
1.00 |
1.33 |
| 2 |
Diving |
79.11 |
79.11 |
0.00 |
0.00 |
55.00 |
24.11 |
43.84 |
| 3 |
Parasailing |
55.00 |
55.00 |
0.00 |
0.00 |
0.00 |
55.00 |
0.00 |
| MISCELLANEOUS |
| 1 |
Postcards |
0.50 |
0.50 |
0.00 |
0.00 |
1.17 |
-0.67 |
-57.26 |
| 2 |
Telephone Call (Average Call) |
0.98 |
0.98 |
0.00 |
0.00 |
0.46 |
0.52 |
113.53 |
| 3 |
Postage Stamp (Average Cost) |
0.46 |
0.46 |
0.00 |
0.00 |
15.00 |
-14.54 |
-96.92 |
| 4 |
Departure Tax |
20.00 |
20.00 |
0.00 |
0.00 |
18.25 |
1.75 |
9.59 |
| 5 |
Souvenirs Ornaments |
22.63 |
22.63 |
0.00 |
0.00 |
0.00 |
22.63 |
0.00 |
|
The