The
Development Planning Unit
Government of the British Virgin Islands

Introduction

For the June 2004, the Consumer Price Index (CPI) stood at 133.2, whereas for the previous month (May 2004) the index stood at 132.8. A quarter earlier (March 2004) the index stood at 132.6. A half year earlier (December 2003) the index stood at 132.5.  One year ago (June 2003)  the index stood at 133.1.

Monthly Comparison

The increase in the monthly price index was as a result of changes in the following subgroups: Food, Beverage & Tobacco increased by 0.3 percent ( due to the increase in the prices of pork-chops, fruits and vegetables and sodas). Housing  rose by 0.2 percent (due to an increase in apartment rental) ; and the Furniture & Household Supply subgroup declined by 0.2 percent ( due to the decline in the price of detergents and toilet paper). There was a slight increase of 0.4 percent in the Clothing & Footwear subgroup  (due to the increase in the price of gasoline and vehicle tires was not sufficient to prevent the 0.4 percent decline that the fall in air fare prices caused in the Transportation subgroup. The increase in doctor's fees, lab fees and school fees caused a 2.0 percent increase in the Services subgroup and the Miscellaneous subgroup  rose by 0.2 percent (due to the higher price of hair preparations).

Quarter Comparison     

The quarterly comparison indicated an increases in all the subgroups with the exception of Transportation which fell by 0.4 percent and the Furniture and Household Supplies subgroup remained unchanged in the comparison. Food, Beverage & Tobacco rose by 0.8 percent while  Housing rose by 0.2 percent. Clothing & Footwear and Services rose by 0.3 percent and 2.0 percent respectively and the Miscellaneous subgroup rose slightly by 0.1 percent.

Half-Yearly Comparison

The half-yearly comparison between December 2003 and June 2004  indicated both significant increases and decreases among the different subgroups. Food, Beverage & Tobacco, Housing, Furniture & Household Supplies, Services and Miscellaneous indicated increases of 0.90 ,0.20,0.6, 2.4 and 0.1 percent respectively, Clothing & Footwear with a decline of 0.3 percent were the only two subgroups to indicate declines in the comparison.

Annual Comparison

On an annual comparison, the all the subgroups indicated the following increases: Food, Beverage & Tobacco subgroup increased by 1.3 percent, while Housing rose by 0.2 percent. Services rose by 3.20 percent and Miscellaneous by 0.7 percent . The declining  subgroups Furniture & Household Supplies (which fell by 3.5 percent ), Clothing & Footwear down by 0.8percent and Transportation which declined by 0.4. 

Rate of Inflation

The point-to-point monthly, quarterly, half-yearly and annual rates of inflation stood at 0.3, 0.5, 0.5 and 0.1 percent respectively.

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

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