The
Development Planning Unit
Government of the British Virgin Islands

Introduction

The Consumer Price Index (CPI) for the month of March 2003 stood at 131.4 up from 130.7 recorded in the previous month. A quarter earlier (December 2002) the index stood at 130.5, and one year earlier (March 2002) the index stood at 126.9.

Monthly Comparison

The subgroups mainly responsible for the increase in the monthly index were: Food, Beverage & Tobacco, which increased 1.16 percent due mainly to higher price of pork chop, fresh fruits and vegetables, teas and rum; Clothing & Footwear which took a 1.02 percent increase due to the higher prices of ladies dresses, man's pants  shoes and infant clothing; and the Transportation subgroup which rose by 1.72 percent due to the higher price of gasoline. Two subgroups declined during the period- namely Services which decline by 0.67 percent due to the lower prices of vitamins and aspirins/paracetamol; and the Miscellaneous subgroup which recorded a 0.22 percent decline  due to the lower prices of tooth paste, lotion and hair preparations. Housing and Furniture & Household supplies subgroups remained unchanged for the period.

Quarter Comparison     

On a quarterly comparison Food, Beverage & Tobacco rose by 1.67 percent, Furniture and Household Supplies by 0.25 percent, Clothing & Footwear by 1.11 percent and Transportation by 1.72 percent. The Housing subgroup remained unchanged while the Services subgroup decline by 0.33 percent and the Miscellaneous subgroup declined by 1.19 percent.

Annual Comparison

On an annual comparison, all the subgroups increased except for Housing which declined by 0.15 percent. Food, Beverage & Tobacco increased by 1.93 percent; Furniture & Household Supplies  by 9.02 percent, Clothing & Footwear by 2.78 percent,Transportation by 10.06 percent ,Services by  0.34 percent and Miscellaneous by 4.15 percent . 

Rate of Inflation

The point-to-point monthly and annual rates of inflation stood at 0.54, 0.69 and 3.55 percent respectively.

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

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