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CPI Downloads and Overview (March_11)

icon March Quarter 2011 CPI Table Package

46 kB

icon March Quarter 2011 PDF Release813.17 kB

 

CPI Figures at a Glance

Niue Consumer Price Index:

December 2010    

Main mover of CPI

for this quarter:

Base Year 2003 = 100 points

Housing Group 2.2%

March 2011 : 148.0 points

Price increase relative to Base Year:

December 2010 : 147.4 points

Percentage increase (7.5 years) 47.9%

Movements / Inflation:

Price Increase (Mar’11) $47.94

3 months 0.4%

Current Price (Mar ‘11) $147.94

 

CPI Overview

Statistics Niue is very happy to put out this statistical release of the Niue Consumer Price Index (CPI) for the quarter ending March 2011.

What is the Consumer Price Index? Consumer Price Index (CPI) measures changes in the prices of goods and services that households consume. Such changes affect the real purchasing power of consumers’ incomes and their welfare. As the prices of different goods and services do not all change at the same rate, a price index can only reflect their average movement. (ILO Consumer Price Index Manual: Theory and Practices (2004))

 

NiueCPI01

The Niue Consumer Price Index : September 2003 – March 2011

 

The CPI: The Niue Consumer Price Index (CPI-All Groups denotes CPI) for the opening quarter of 2011 (March 2011) is 148.0 points, this is 0.6 points (rounded) higher than that of the previous quarter ending December 2010 (Table 1). This difference is translated to a 0.4% movement or inflation rate (Table 2). It indicates that in general the prices of goods and services purchased by consumers have increased a little in the last three months (January - March) compared to the -0.01% movement in the last three months ending December 2010. This means the little relief to consumer spending at the end of last year did not last for too long. In the YTD (year to date: Jan – Dec 2011) movement, the CPI have started off with a 0.4% high or an increase of the same from end of last year. It means prices of goods and services are back on the rise again and the buying power (salaries and wages) of the consumer will certainly diminished.

The movement of the CPI is a general reflection of how much the prices of goods and services in the “CPI basket” have moved in a given period, but not necessarily as individual groups or individual items sold to the consumers over the counter (in the shops) or services provided to the consumers. Individual group items have their own index movements in 3 months (or quarterly), 6 months and 12 months periods to the end of the index period. This is discussed in Part 2 of the release. The ten single commodities of these groups that affected the movement (in absolute terms) are shown in Part 3 (Table 4) of this release.

For access to all tables - icon Download the Excel Table Package


CPI Movements (3, 6, 12 Months)

The Niue Consumer Price Index Movements (3, 6 and 12 months) as of and up to the quarter ending March 2011

Table 2: Point Differences and Relative Price Movement Rates for Individual groups for the Quarter, Six-Months and 12-Months ending March 2011. View or Download Excel Table Package


2.1       Three months or quarterly movement: The quarterly (3 months) inflation rate or price movement is 0.4%; ranging from 2.17% high in the Housing group to a low of negative 0.37% in the Household Operations group. Commodities in the Housing, Transport and Communication, and Clothing groups were the big movers (more than the CPI) this quarter. It is surprising too that there is some slight relief in prices of some of the food items this quarter but for how long, one can only imagine as most of the items in the basket are imports. These commodities are shown in Part 3 (Table 4) of this publication.

 

2.2       Six and Twelve month’s movements: For the six months period to March quarter 2011 the inflation rate was 0.4%. All commodity groups in this comparison table which showed movements (more than the CPI in absolute terms) at this level.

For the twelve months period (March 2010 to March 2011) the CPI have inflated by 3.2%, and the main movers were commodities in these groups: Tobacco and Alcohol and Food. They have increased by 20.9% and 3.2% respectively. They moved higher than the overall CPI.

This is an indication that prices have increased during the last six and twelve months’ periods at different rates. 

 

2.3       Groups’ contributions to the price movements: The original percentage contributions of the different groups to the CPI were determined by the weights allocated to the ‘basket of goods and services’- the basket and weights were rebased in September 2003.   At the end of this quarter (March 2011) the major contributors to the 0.41 % inflation were items or commodities: in the low side - Food group (-0.11%), Household Operations group (-0.07%), Tobacco and Alcohol group (-0.01%) and Miscellaneous group (-0.01); and those in the high side – Transport and Communication group (0.33%), Housing group (0.22%), and Clothing group (0.04%) (Table 3&Chart 3)

 

Table 3: Groups’ contributions to the CPI for Quarter ending March 2011. View

 

 NiueCPI02

 

Chart 3: The Group’s Contributions to All Groups Changes – March 2011. 

  

Note: Numerical difference of figures is the result of rounding.

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