November 2021 Consumer Price Index Report
Consumers paid 2.8% more in November than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI].
A Government spokesperson said, “Today, the Minister of Economy and Labour, the Hon. Jason Hayward, JP, MP, released the November 2021 Consumer Price Index publication from the Department of Statistics.
The Minister explained, “In November 2021, Consumers paid 2.8 per cent more than they did in November 2020 for the basket of goods and services.”
Minister Hayward added, “The Transport & Foreign Travel sector continued to be the largest contributor to the twelve-month increase in the CPI [+11.2 per cent]. On average, annual increases were reported in the cost of new cars [+2.6 per cent], overseas hotel accommodations [+37.8 per cent], premium fuel [+15.8 per cent] and airfares [+15.6 per cent]. The Food sector and the Health & Personal Care sector also impacted strongly on the annual rate of inflation, as price shifts in these sectors were 3.4 per cent and 3.3 per cent, respectively.”
“Between October 2021 and November 2021 the average cost of goods and services increased 0.5 per cent.”
“Additional areas of note between October and November 2021 are as follows:
- Within the Food sector, prices rose 1.7 per cent for the month. The main items contributing to the increase were cantaloupes [+6.3 per cent] and salmon and cod fish [+3.4 per cent]. In addition, the average cost of prepared meals purchased from grocery stores advanced 3.7 per cent.
- The Tobacco & Liquor sector advanced 2.3 per cent reflecting increases in the average price of wines [+3.8 per cent], spirits [+2.5 per cent] and cigarettes [+1.4 per cent].
- The Health & Personal Care sector jumped 1.5 per cent in November as the cost of the Health Insurance Plan [HIP] and Future Care rose 7.0 per cent and 6.0 per cent, respectively.
- The Transport & Foreign Travel sector declined 1.1 per cent. The decrease was attributed to the average cost of overseas car rentals [-10.2 per cent], airfares [-2.9 per cent] and premium fuels [-1.2 per cent].
“*Note: In summary, each month, the Government measures the annual rate of inflation and the monthly rate of inflation – Annual are changes from same month last year, and monthly are the changes from month to month.”
The full November 2021 Consumer Price Index follows below [PDF here]:
