The
Development Planning Unit
Government of the British Virgin Islands

Introduction

The Consumer Price Index (CPI) for the first quarter of  2001(March) stood at 128.2 whereas the previous month (February) it stood at a 125.0 index level. A quarter earlier (December 2000) the index stood at 124.8 and a year earlier (March 2000) the index stood at 122.3.

Monthly Comparison

While the Housing and Transportation subgroups remained unchanged at the index levels of 131.2  and 131.1 respectively, the subgroups Food, Beverage & Tobacco increased by 7.88 percent. These percentage increases were due to the higher prices of Chicken, eggs, cheese, fruits and vegetables, coffee and rum while bleach, detergents, toilet paper and garbage bags brought about a 1.48 percent increase in the Furniture, & Household Supplies subgroup. Clothing & Footwear increased by 3.04 percent due to increases in the price of men's and boys shirt, ladies dress and men's pants. The Services subgroup increased by 0.17 percent due to the higher prices of vitamins and aspirins. The Miscellaneous subgroup took a 0.15 percent increase due to the higher prices of dolls and family games.

Quarterly Comparison

With the exception of the Housing and Transportation subgroup which remained unchanged, all the other subgroups indicated a significant increase over the previous quarter. Food, Beverage & Tobacco increased by 8.16 percent, Furniture & Household Supplies 1.33 percent, Clothing & Footwear 3.13 percent, Services 0.25 percent and Miscellaneous 1.02 percent.

Annual Comparison

On an annual comparison all the subgroups showed an increase with the exception of Furniture & Household Supplies which declined by 1.50 percent.. Food, Beverage & Tobacco increased by 11.95 percent, Housing 0.92 percent, Clothing & Footwear 6.09 percent, Transportation 3.23 percent, Services 4.69 percent, and Miscellaneous 5.21 percent.

Rate of Inflation

The point-to-point monthly, quarterly and annual rate of inflation stood at 2.56,2.72 and 4.81 percent respectively.

TABLE 1
CONSUMER PRICE INDEX: MONTHLY AND ANNUAL COMPARISONS
(MARCH 1995=100)