January inflation report still to be issued -2006 figure at 4.2%
Stabroek News
February 23, 2007
The Bureau of Statistics is yet to issue its monthly report on the Urban Consumer Price Index (CPI) for a basket of goods for January.
This report is eagerly awaited in light of the Value Added Tax (VAT) implementation on January 1 which has seen increased prices across the country.
This newspaper tried unsuccessfully yesterday to inquire from the Bureau when the CPI report would be issued.
After several calls and a visit to the Bureau, Stabroek News was unable to speak with the relevant persons on the issuing of the CPI.
However, yesterday afternoon the Government Information Agency (GINA) released a copy of the CPI for December 2006, dated January 29, 2007.
In December, inflation was recorded at 4.2% representing a 0.4% increase for the month of December, when compared to the month of November, 2006.
December, the Bureau said, did not record any surge in prices, as observed in recent years. 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 declined during the month, it was noted.
The food group recorded a 1% increase in prices. Within this group, condiments and spices increased by 2.7%, vegetables and vegetables 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, as observed in recent years, is definitely moderate. Similarly, 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, said the Bureau press release.
Apart from the food group, the price level of traditionally high demand items such as household appliances, glassware, tableware and cleaning materials again also increased by 1%, 0.1% and 0.8% respectively. 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 and domestic gas) having a recorded decline of 0.6%.