From top to bottom in each item: third quarter 2018, second quarter 2019 and third quarter 2019. (STAT graphic)
PHILIPSBURG–The consumer price index (CPI) for St. Maarten in the third quarter of 2019 is at 100.59. This represents an increase of 0.35 per cent compared to that of the second quarter of the year. When comparing the consumer prices from the same period last year an increase of 0.09 per cent was recorded, the Department of Statistics STAT said Tuesday.
For the third quarter of 2019, prices in seven of the 12 expenditure categories recorded increases while five decreased in price compared to the second quarter of the year. The increases were in the categories “Food and Non-alcoholic Beverages” (+0.27 per cent); “Alcoholic Beverages, Tobacco and Narcotics” (+0.77 per cent); “Housing, Water, Electricity, Gas and Other Fuels” (+0.49 per cent); “Furnishings, Household Equipment and Maintenance” (+1.51 per cent); “Recreation and Culture” (+0.66 per cent); “Education” (+0.51 per cent); and “Miscellaneous Goods and Services” (+1.10 per cent).
Decreases were seen in the categories “Clothing and Footwear” (-0.35 per cent); “Health” (-0.42 per cent); “Transport” (-0.61 per cent); “Communication” (-0.37 per cent); and “Restaurants and Hotels” (-0.03 per cent), according to STAT.
Based on the latest Household Budget Survey, four categories carry the largest percentage weight or influence on the total CPI: Food and Non-alcoholic Beverages (7.2 per cent); Housing, Water, Electricity, Gas and Other Fuels (36.1 per cent); Transport (14.6 per cent); and Miscellaneous Goods and Services (13.4 per cent).
For Food and Non-alcoholic Beverages, the cost of the subcategory “Food” went up by 0.48 per cent. This was mainly due to the rise in the prices of meat (+0.99 per cent), vegetables (+1.15 per cent), and food products (+2.59 per cent).
Prices in the subcategory “non-alcoholic beverages” decreased by 0.9 per cent. This was driven by a decrease (-1.12 per cent) in the prices of coffee, tea and cocoa.
The change in the price of Housing, Water, Electricity, Gas and Other Fuels was influenced by increases in the price levels of the subgroups “Actual Rentals for Housing” (+2.82 per cent) and “Maintenance and Repair of the Dwelling” (+0.31 per cent).
STAT noted that in this category, rent has the largest weight of 27.9 per cent. Therefore, these increases counteracted the decrease in prices of electricity, gas and other fuels (-4.17 per cent).
In July, August and September, the price for Transport was largely impacted by the “Operation of Personal Transport Equipment” (-2.54 per cent) such as fuels, lubricants, spare parts and accessories. Prices in the category Miscellaneous Goods and Services increased largely because of the increase in the subcategory “Financial Services”, which increased by 7.58 per cent.
The prices in third quarter of 2019 have increased slightly when compared to the same period in 2018. The inflation rate recorded is 0.09 per cent, said STAT.
This rise in prices for the 12-month period was largely due to increases in the household expenditure categories alcoholic beverages, tobacco and narcotics (+2.08 per cent); clothing and footwear” (+3.53 per cent); health (+1.33 per cent); and recreation and culture (+1.07 per cent).
STAT said that for all four expenditure categories with the highest weight on the total CPI the prices went down when compared to the same period last year.
Food and Non-alcoholic Beverages prices decreased 0.84 per cent; prices in the category Housing, Water, Electricity, Gas and Other Fuels, as well as the category Transport went down 0.18 per cent and 0.37 per cent, respectively, and those for Miscellaneous Goods and Services decreased by 0.21 per cent.
Despite the drop in prices in these four major categories, the rise in the other categories caused the slight overall increase in the inflation rate, STAT stated.
Source: The Daily Herald https://www.thedailyherald.sx/islands/92979-prices-up-from-last-quarter-slightly-up-from-last-year
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