The
Development Planning Unit
Government of the British Virgin Islands

Introduction

At the end of 2002 the Consumer Price Index (CPI) stood at 130.5 where as the previous month ( November 2002) the index stood at 127.1. A quarter earlier (September 2002) the index stood 126.8. A half-year earlier (June 2002) the index stood at 127.1. while for the same period a year  earlier (December 2001) the index stood at 126.7.

Monthly Comparison

The monthly comparison indicted increase in all the subgroups. Food, Beverage & Tobacco increased by 0.25 due to an increase in the prices of ground beef, chicken, tinned tuna, vegetables , flour and cereals. Housing increased by 0.30 percent as a result of an increase in prices of galvanized sheets and home insurance, while Furniture & Household Supplies had a 8.98 percent increase due mainly to the increase in the prices of insecticides, disinfectants and toiletries. The higher prices of  boys' shirts, Ladies dresses and men's pants had a  1.82 percent increase in the Clothing and Footwear subgroup. The Transportation subgroup rose to 5.22 percent mainly due to the higher process of gasoline and vehicle tires. Services also increased, rising to 1.01 percent due to the upward prices of pharmaceutical drugs and doctor's visit. The Miscellaneous subgroup moved up by 4.58 percent due to the rise in the prices of toilet soap , toothpaste and hair preparations.

Quarterly Comparison

The quarterly comparison indicated an increase in all the subgroups: Food, Beverage & Tobacco rose by 0.76 percent, Housing 0.30 percent, Clothing and Footwear 2.00 percent, Transportation 5.22 percent, Services 1.01 percent and the Miscellaneous Showed a 5.48 percent increase.

Half-Yearly Comparison

The Half-year comparison between June and December of 2002 index indicated significant increases in all the subgroups: Food, Beverage and Tobacco, increased by 0.5 percent, Housing a 0.30 percent increase, Furniture & Household Supplies 9.49 percent increase while Clothing and Footwear took a 1.38 percent increase. Transportation indicated a 4.69 percent increase for the period while Services rose by 0.93 and Miscellaneous showed a 5.48 percent increase.

Annual Comparison

On an annual comparison Housing was the only subgroup to indicate a decrease, falling by 0.15 percent. The others reflected increase such as: Food Beverage & Tobacco rose by 1.10 percent ,  Furniture & Household Supplies  9.12 percent, Clothing & Footwear 1.30 percent, Transportation 7.88 percent followed by Services with 0.76 percent and Miscellaneous with a 4.66 percent increase.

Rate of Inflation

The point-to-point monthly, quarterly, half yearly and annual rate of inflation stood at 2.63, 2.92, 2.68 and 3.00 percent respectively.

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

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