The
Development Planning Unit
Government of the British Virgin Islands

Introduction

The Consumer Price Index (CPI) for the third quarter of (September) 2001 stood at 126.8  down from the 126.9 level recorded in the previous month (August 2001). A quarter earlier (June) the index also stood at 126.9 and one year earlier the index stood at 123.5.

Monthly Comparison

The  subgroups mainly responsible for the insignificant decline in the monthly index were: Clothing & Footwear which decreased by 2.70 percent due mainly to the fall in prices of men's pants, ladies dress and undergarments; and the Services subgroup which declined by 1.24 percent due to the decrease of prices in school supplies. Despite the overall decline in the index Food, Beverage & Tobacco  increased by 0.51 percent due to the higher prices of onions, chicken (whole & legs) and vegetables. Furniture & Household Supplies increased by 1.55  percent as a result of higher prices of refrigerators and garbage bags. The Miscellaneous subgroup  increased by 0.79 percent due to the increase in the prices of make-up preparation, toothpaste and toilet soap. The other subgroups Housing,  Transportation remained unchanged for the period. 

Quarterly Comparison

The decline in the quarterly comparison was mainly due to the 2.71 percent decline in Clothing and Footwear subgroup. The Miscellaneous subgroup also declined by 1.77 percent. The Housing and Transportation subgroup reflected the same indices as the previous quarter. The other subgroups indicated increases for the period ( June- September, 2001).Food, Beverage & Tobacco rose by 0.68 percent, Furniture & Household Supplies increased by 1.62 percent,  and the Service subgroup rose by 0.08 percent. 

Annual Comparison

On an annual comparison all the subgroups indicated a significant  increases. Food, Beverage & Tobacco rose by 3.61 percent, Housing 0.54 percent,  Furniture & Household Supplies had the largest increase with a  5.69 percent jump, Clothing & Footwear rose by 1.63 percent followed by Transportation with an increase of  0.84 percent. Services recorded a 1.62 percent increase while Miscellaneous subgroup showed a 3.23 percent increase.

Rate of Inflation

The point-to-point monthly, quarterly and annual rates of inflation stood at -0.08, -0.08 and 2.67 percent respectively.

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

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