Consumer Price Index reveals increases in food prices, inflation

Antiguans and Barbudans will continue to struggle to support themselves as the Consumer Price Index (CPI) has indicated an increase in inflation by 1.2 percent in May 2018, with food prices increasing to its largest percentage since August 2015.
According to the report sent to OBSERVER media Wednesday, food prices have, on average, increased by 3.1 percent, with costs for clothes, footwear, housing and medical expenses also increasing during the same period.
The report also states that six of the nine major grocery store food groups index rose over the past year.
The costs for bakery and cereal products have increased by 6.8 percent, its largest 12-month increase since July 2013.
Sugars, jams and confectionary products saw the percentage increase of 11.5 percent, with prices for jams and jellies increasing by 47.1 percent since last year.
However, hot beverage items, like coffee and tea, had prices increase by 31.3 percent over a 12-month period, with prices rising by 17.2 percent between the months of April and May of this year.
Conversely, milk and diary products saw a price decrease with milk by 10.5 percent and dairy products having a 5.4 percent decrease.
Costs for alcoholic drinks and personal services have also decreased over the past year, with alcohol falling by 3.6 percent and personal services by 1.3 percent.
The Consumer Price Index (CPI) is a statistical indicator of changes in the general level of prices of consumer goods and services purchased by private households. The CPI measures price movements of a fixed quality and quantity of goods and services.