The
Development Planning Unit
Government of the British Virgin Islands

Introduction

The Consumer Price Index (CPI) for the month of October 2002 stood at 126.9 up from the 126.8 as recorded in the previous month (September 2002). One year earlier the index stood at 126.6.

Monthly Comparison

The subgroups responsible for the increase in the monthly index were Furniture & Household Supplies which rose by 0.13 percent, due mainly to the rise in  prices of detergents and garbage bags. The Clothing & Footwear subgroup also contributed to the increase with a 0.17 percent change which was mainly associated with higher prices of pampers. The Miscellaneous subgroup on the other hand showed a 0.39 percent increase due mainly to the price increase of toothpaste. Despite the overall increase in the index, Food, Beverage & Tobacco decreased  by 0.17 percent due to a decline in the cost of cheddar cheese and vegetables. The other subgroups namely Housing, Transportation, and Services remained unchanged for the period under review.

Annual Comparison

On an annual comparison, three of the seven subgroups indicated a decline. Furniture & Household Supplies fell by 0.80 percent, Clothing & Footwear by 3.03 percent and Services 0.75 percent. The other subgroups reflected the following increases Food, Beverage & Tobacco increased by 1.20 percent; Housing 0.08 percent, Transportation 4.31 percent and Miscellaneous 0.86 percent. 

Rate of Inflation

The point-to-point monthly, quarterly and annual rate of inflation stood at 0.08 and 0.24 percent respectively.

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

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