No surge in prices in December, says Bureau of Statistics
Guyana Chronicle
February 26, 2007
THE Bureau of Statistics has reported that the Urban (Georgetown) Consumer Price Index (CPI) registered a level of 219.2 index points at the end of last year, which represents a 4.2% year-to-date inflation rate and a 0.4% increase in the index for the month of December 2006, when compared to the previous month (November) where the index point stood at 218.2 points.
The Bureau, however, said that the month of December, which is the peak of the Christmas Season, “again did not record any surge in prices, as has been observed in recent years”.
It noted that price movements in the traditional areas of heavy spending for the Christmas season such as food, alcoholic and non-alcoholic beverages, furniture and fuel and power, all recorded either moderate increases or a decline during December.
The food group recorded a 1.0 % increase in prices and the Bureau said within the group, condiments and spices increased by 2.7%, vegetables and vegetable products by 2.6%, meat, fish and eggs by 1.4%, fruits and fruit products by 1.3% and sugar, honey and related products by 1.4%.
Considering that these are the most consumed items in the tradition of the Christmas season, and are usually marked by huge spikes in demand, the Bureau said the price increases in these categories have been definitely moderate.
Similarly, it said the sub-categories of non-alcoholic beverages and alcoholic beverages, again high demand categories during the season, also recorded moderate increases of 1.6% and 1.3% respectively.
Apart from the food group, the price level of traditional high demand items such as household appliances, glassware, tableware and cleaning materials also increased just moderately, by 1.0%, 0.1% and 0.8% respectively.
The Bureau said other noted price movements were medical expenses (3.2%), therapeutic appliances (10.1%) and personal transport equipment (0.3%).
Offsetting these upward movements was the recorded decline in the housing group of 0.2%, with the sub-category fuel and power (kerosene oil an domestic gas) recording a decline of 0.6%, the Bureau added.