The Consumers Price Index (CPI) is an indicator or measure of prices changes. It is a fixed weighted average of price relatives and is computed using the Laspeyres price index formula. The current weighting pattern is based on the 2005 Household Expenditure Survey (HES), which was carried out in 2005/06. The HES information was used to select the 'basket', which is the commonly used term for the goods and services prices for the purpose of compiling the CPI.
Key Facts
Quarterly Change
In the September 2019 quarter compared with the June 2019 quarter:
The Consumer Price Index (CPI) All Groups increased by 0.4 percent
The Underlying Index rose by 0.6 percent
Transport group showed the highest increase of 0.8 percent caused by increases in Motor fuel & oil of 3.01 percent and 2.2 percent in the Motor Vehicle Expenses subgroup
Food group prices increased by 0.7 percent caused by increase subgroup in the farm product, fats & oils subgroup of 4.2 percent, cereal products of 2.6 percent, other food and prepared food subgroup of 0.7 percent and 0.2 percent
Household Operations and Tobacco & Alcohol groups also went up by 0.4 percent and 0.1 percent
Followed by decreases in Housing, Miscellaneous and Apparel group by 0.3 percent, 0.1 percent and 0.05 percent
Annual Change
From September 2018 quarter to September 2019 quarter:
The consumer price index (CPI) increased by 1.3 percent
Annual Average Inflation Rate increased by 0.2 percent
Food group increased by 2.7 percent
Alcohol & Tobacco increased by 2.2 percent
Transport group prices up by 0.1 percent
More on Consumers Price Index...
Information about CPI
The Consumer Price Index covers price changes of the basket of goods and services consumed by all households on Rarotonga (the main island).
The base year is 2006. Prices are collected for 205 items and from selected outlets around Rarotonga. Individual prices are combined using weights from the Household Expenditure Survey (HES) conducted in 2004/5. The HES information was used to select the basket of goods and services.
The inclusion of an underlying measure is a recent improvement and it is published at the same time as the CPI. The underlying measure excludes items of a highly volatile nature, items that are subject to policy changes.
It excludes all locally produced fruits, vegetables, meat and fish, international airfares, mortgage interest, government rent, postal and telecommunication charges, electricity charges, tobacco and alcohol, petrol and diesel.
The CPI is computed using the Laspeyres price index formula
Downloads:
CPI_Statistics_Report_201903.pdf758 KB
CPI_Statistics_Tables_201903.pdf302 KB