The Consumer Price Index for Sint Maarten has increased in the month of June 2016 by 0.8 percent compared to that of April 2016.
When comparing average consumer prices over a twelve month period (June 2015 to June 2016), a decrease of 125 percent was recorded compared to the same period one year earlier. The current level of deflation (-0.3%) is comparable to that recorded in January 1986(-0.3%).
This is evident from the data released by the Department of Statistics (STAT) today.
Price changes between June & April 2016 The consumer price index for Sint Maarten has increased in the month of June 2016 by 0.8 percent compared to that of April 2016. The price index recorded in June 2016 is 126.7
Expenditure Category WEIGHT INDEXAPRIL 2016 INDEXJUNE 2016 % CHANGE Food 10% 198.2 197.4 -0.4 Beveragesandtobacco 1% 146.6 148.0 1.0 Clothing&footwear 7% 110.9 111.6 0.6 Housing 39% 120.7 122.4 1.4 Household furnishing& appliances 6% 144.9 144.6 -0.2 Medicalcare 3% 115.3 118.0 2.3 Transport&communication 20% 105.2 105.9 0.7 Recreation &education 6% 106.4 106.5 0.1 Misc. 8% 120.8 121.8 0.8 TOTAL 100% 125.7 126.7 0.8
Expenditure Categories – overall increase
In June 2016, seven of the nine expenditure categories became more expensive, whilst two became cheaper. Amongst the more expensive were the categories; ‘Beverages and Tobacco’ (+1.0%),‘Clothing and Footwear’ (+0.6%),‘Housing’ (+1.4%),‘Medical Care’ (+2.3%), ‘Transport & Communication’ (+0.7%),‘Recreation & Education’ (+0.1%) and
‘Miscellaneous’ (+0.8%). Whereas slight decreases were recorded for the expenditure category ‘Food’ (-0.4%) and ‘Household Furnishing & Appliances’ (-0.2%). Notable is the expenditure category ‘Food’ has been observing declining consumer prices over the past
4 months; significant is that a drop in consumer prices hadn’t been observed since mid-
2010.
Within the expenditure category Food, it can be noted that five of the nine food groups became less expensive whilst four became more expensive. The following food groups recorded decreases; Meat and Fish (-0.5%), Fats & Oils (-0.7%), Dairy Products (-1.2%), Potatoes, Vegetables & Fruit (-1.6%) and other food resources (-0.2%). Whilst the food groups, Grain (+1.1%), Sugar & Chocolate (+0.5%), Pre-cooked dishes (+1.5%) and Eating-out (+0.4%) all became more expensive.
More specifically the following products largely influenced the total price change within the food groups: ‘Grain ’ was largely influenced by small breads (3.6%), white rice (+1.2%), cereal (+1.8%) and pasta (+3.3%). The food group ‘Me a t & Fish ’ , was largely influenced by beef (-15.4%), oxtail (-3.0%), Spareribs (+2.3%), goat meat (-5.4%), pigtail (+6.4%) and poultry (+0.7%). The food group ‘Dairy Products’ was largely influenced by; canned milk (-2.6%), yoghurt (+4.2%), cheese (-3.4%) and eggs (-8.6%). The food group ‘Potatoes, Vegetables & Fruit’ was largely influenced by; potatoes (-2.2%), cabbage
(+22%), tomatoes (-7.7%), bell peppers (-9.7%), other vegetables (-8.2%), spices (- 23.9%), dried beans (+14.9%), grapes (+9.0%), other citrus fruit (+20.8%), plantain(+9.3%) and raisins (+4.8%). The food group ‘Ea tin g-o u t’ was largely influenced by; meals, snacks & soups (+0.9%),
Within the expenditure category Housing, it is noted that one of the five product groups became less expensive whilst one remained stable and three became more expensive. The product group; ‘Maintenance of dwelling’ decreased by -0.2%. Whilst the product groups; ‘Energy expenses’, Garden maintenance’ and ‘Dwelling costs’ increased by +8.2%, +0.5% and +0.4% respectively.
An increase in the consumer price of electricity by 8.1% and cooking gas cylinders by
9.2% largely influenced the total price change within the product group ‘Energy expenses’. The Product group: ‘Maintenance of dwelling’, was largely influenced by; paint (-0.7%), wood (-2.0%), other materials for maintenance of dwelling (-6.3%) and labour
cost for maintenance of dwelling (+0.7%)
Prices have increased compared to April 2016.
