STATISTICS UPDATE: CONSUMER PRICE INDEX

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1 VANUATU NATIONAL STATISTICS OFFICE Private Mail Bag 9019 Ministry of Finance and Economic Management Port Vila, Vanuatu Ph: /22111, Fax: Web: STATISTICS UPDATE: CONSUMER PRICE INDEX JUNE QUARTER 2015 HIGHLIGHTS Figure 1: CPI per cent change over previous quarter CPI QUARTERLY MOVEMENT The Consumer Price Index (CPI) of June, 2015 indicated a huge increase of (+ 4.8 %). Port Vila had dramatically increased by (+5.7%) showing the effect of cyclone Pam while Luganvillie index indicated a slight growth of (+ 0.7%) compared to the previous quarter. The following expenditure groups contributed to the increase in the CPI: Food (+12.6%) and Recreation (+0.3%). On the other hand, Housing and Utilities, and Household Supplies indicated a decrease of (-0.4%) respectively, Transportation (- 0.3 %), Drinks and Tobacco, Clothing and Footwear, and Miscellaneous stood at (-0.1%) each. In terms of contribution to growth, Health, Communication and Education had a steady contribution of (0.0%). The main contributor to this movement was due to the price movements of Fruits and Vegetables from the Markets and Supermarkets in Port Vila. However, with the VAT exemption after cyclone Pam, it reflected that small hardware tools, housing materials had caused a fall in price movement for both Port Vila and Luganvillie. Transportation also decreased, resulting from the price fall of automotive fuel in the two regions. 1

2 Percent change CPI ANNUAL MOVEMENT When compared to the June quarter of 2014, the Vanuatu index increased by 5.7%, Port Vila index rose by 6.8 % while Luganville index indicated a slight increase of 0.6%. At national level, the expenditure groups that contributed to the increase over the same quarter of last year were: Food (12.3%), Transportation (+5.1%), Education (3.6%), Housing and Utilities (+1.8%), Clothing and Footwear (+1.0%), Drinks and Tobacco (+0.1%). Thus, the increases in these expenditure groups were the result of the increased price in Fruits and Vegetables after cyclone Pam, Purchasing of new motor Vehicles, school fees, Electricity and Water supply Charges. However, the three groups that recorded an offsetting fall were Recreation (-1.9%) Household Supplies (-0.9%) and Miscellaneous (-0.2%) CPI percent change over same quarter in previous year Total / Global Port Vila Luganville Mar'12 Jun'12 Sept'12 Dec'12 Mar'13 Jun'13 Sept'13 Dec'13 Mar'14 Jun'14 Sept'14 Dec'14 Mar'15 Jun' Figure 2: CPI per cent change over same quarter in previous year UNDERLYING INFLATION Underlying inflation is a measure derived from the CPI excluding items which typically have unstable or volatile prices; because of things like seasonal variation or policy decisions. Underlying inflation increase by (1.5%) in June quarter of 2015 compared to the previous quarter (March, 2015). In addition, it recorded an increase of (1.7%) over the same quarter of CONCEPTS AND DEFINITIONS The Consumer Price Index (CPI) is used to measure the changes in the prices of goods and services purchased by households in Port Vila and Luganville over a period of time. The separate indices for these two major commercial centres are then combined to create the Vanuatu CPI. This change in prices is sometimes called inflation. Retail stores, supermarkets, liquor outlets, transport operators, service stations and other providers of goods and services help supply the Vanuatu National Statistics Office with the information to calculate the CPI. 2

3 Prices are collected for exactly the same goods and services each quarter. This ensures that changes in the cost of goods and services over time are not due to changes in the quantity or quality of the goods and services purchased. ATTACHED: Table 1 Consumer Price Index: All Items Table 2 Consumer Price Index: Expenditure Groups NEXT UPDATE (QUARTERLY) RELEASE DATE September 6 th November, 2015 MORE INFORMATION For statistical enquiries about this topic, please contact: National Statistics Office: (678) 22110/ stats@vanuatu.gov.vu NATIONAL STATISTICS OFFICES IN THE PROVINCES Sola, Vanua Lava Millennium Building PO Box 22 PO Box 8 Commercial Center Banks group, Luganvillie, Santo Lakatoro, Malekula Saratamata, Ambae Lenakel, Tanna Torba Province Sanma Province. Malampa Provnice. Penama Province Tafea Province 3

4 Table 1 Consumer Price Index Base: 1st Quarter 2000 = 100 Tableau 1 Indice des prix à la consommation Base: 1 er Trimestre 2000 = 100 Consumer Price Indices Underlying Rate of Change (%) Rate of Change (%) Inflation Index Year Quarter Indice des prix à la consommation Inflation Variation par rapport Variation Année Trimestre sous-jacente Total / Global Port Vila LuganvilleTotal / Global Total / Global Port Vila Luganville Total / Global Port Vila Luganville 4th Quarter over 4th Quarter of previous year / Over Previous Year /à l'année précédente du 4ème trimestre au 4ème trimestre de l'année précédente Over Previous Quarter / Over Same Quarter of previous year / au trimestre précédent au même trimestre de l'année précédente 2012 Mar' er Jun' ème Sept' ème Dec' ème 2013 Mar' er Jun' ème Sept' ème Dec' ème 2014 Mar' er Jun' ème Sept' ème Dec' ème 2015 Mar' er Jun' ème 4

5 Table 2 Consumer Price Indices by Expenditure Group Base: 1st Quarter 2000 = 100 Tableau 2 Indice des prix à la consommation par poste de dépense Base: 1 er Trimestre 2000 = 100 Food Alcoholic drinks Clothing & Housing & Household All and Tobacco Footwear Utilities Supplies Health TransportCommunication Recreation Education Miscellaneous Groups Year Quarter Produits sson alcoholisée Loyer, eau, Mobilier et Santé Loisir Autres Indice Année Trimestre alimentaires et tabac Habillement et énergie équipement Global etc. ménager etc. Vanuatu st er 2nd ème 3rd ème 4th ème st er 2nd ème 3rd ème 4th ème st er 2nd ème Port Vila Port Vila st er 2nd ème 3rd ème 4th ème st er 2nd ème 3rd ème 4th ème st er 2nd ème Luganville Luganville st er 2nd ème 3rd ème 4th ème st er 2nd ème 3rd ème 4th ème st er 2nd ème 5 Vanuatu