July 2021 Consumer Price Index Report
Consumers paid 2.2% more in July 2021 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI] and this level of inflation rose 1.0 percentage point from the June 2021 annual inflation rate of 1.2%.
A Government spokesperson said, “Today, the Ministry for the Cabinet Office released the July 2021 Consumer Price Index [CPI] publication from the Department of Statistics. In summary, during July 2021 consumers paid 2.2% more than they did in July 2020 for the basket of goods and services.
“The Transport & Foreign Travel sector continues to be the largest contributor to the twelve-month increase in the CPI [+11.3 %], as the average cost of airfares increased for a fourth consecutive month, rising 33.2%.
“Meanwhile, the Health & Personal Care sector and the Education, Recreation, Entertainment & Reading sectors also impacted strongly on the annual rate of inflation, as price shifts in these sectors measured 2.7 % and 2.6 %, respectively.
“Between June and July 2021 the average cost of goods and services rose 0.5%. Additional areas of note between June and July 2021 are as follows:
- The Fuel & Power sector rose 2.8 % as the fuel adjustment clause increased 9.0 % in July following the 14.1 % decline in June.
- The Transport & Foreign Travel sector rose 1.5 %. The rise in this sector was attributed to increases in the average cost of airfares [+5.8 %] and premium fuels [+1.7].
- The Clothing & Footwear sector increased 1.1 % in July. Leading the increase were the average price of female’s blouses [+16.0 %] and jewelry [+6.9 %].
- The Rent sector was up 0.2 % as the average cost of properties not subject to rent control and properties under rental control, advanced 0.4 % and 0.1 %, respectively.
- The Food sector edged up 0.1 % for the month. The main items contributing to the rise was the average cost of canned tuna fish [+5.0 %], canned peanuts [+3.7 %] and fresh tenderloin [+3.4 %].”
The full July 2021 Consumer Price Index follows below [PDF here]:
