April 2022 Consumer Price Index Released
“Consumers paid 3.5% more in April than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]” which “was the highest recorded level of inflation since August 2012 when the annual inflation rate was 3.1%.”
This is according to the April 2022 Consumer Price Index publication from the Department of Statistics, which was released today.
Minister of Economy and Labour Jason Hayward said, “In April 2022, consumers paid 3.5% more than they did a year ago for the same basket of goods and services; this was the highest recorded level of inflation since August 2012 when the annual inflation rate was 3.1%.”
Minister Hayward added, “The Transport & Foreign Travel sector continued to be the most significant contributor [+9.0%] to the twelve-month increase in the CPI. On average, annual increases were reported in the cost of overseas hotel accommodations [+69.6%], premium fuels [+9.1%], mixed fuels [+8.6%] and cars [+1.5%].”
“The Food sector increased 5.4 percent year-over-year.The Food sector reported increases in the cost of potatoes [+24.4%], tenderloin steak [+21.7%], pineapples [+17.6%], frozen entrees [+12.8%], bread [+8.3% and baby food [+6.7%].
“The Education Recreation and Reading sector increased 5.0% year-over-year. Within the Education, Recreation, Entertainment & Reading sector, the average cost of the local newspaper climbed 25.0%. The average price of pleasure boats advanced by 20.0%.
“Year-over-year, the Health & Personal Care sector was up 4.3%. The average cost of health insurance premiums [+6.0%], toiletries, cosmetics and perfumes [+3.5%] and prescription medicines [+2.4%] increased.
“On an annual basis, Clothing & Footwear prices rose 1.5% as the average cost of women’s sweaters, jewellery, and men’s shirts rose 16.0%, 7.3% and 5.1%, respectively.”
“Between March 2022 and April 2022, the average cost of goods and services in the CPI increased 1.2%.”
“Additional areas of note between March and April 2022 are as follows:
- The increase in the fuel adjustment clause [+21.4%] propelled the Fuel & Power sector to jump 9.2% for the month.
- The Health & Personal Care sector rose 2.2% as the average cost of health insurance premiums increased 2.8%.
- The Household Goods, Services & Supplies sector increased by 2.0% in April. On average, price increases were reported for dining room furniture [+29.8%], television service subscriptions [+9.6%] and bedroom furniture [+8.3%].
- The Transport & Foreign Travel sector rose 1.7% for the month. A 9.6% decline in the average cost of private car licensing fees was offset by increases in the price of overseas hotel accommodations [+13.1%] and airfares [+4.5%].
- The Food sector inched up 0.4% in April. Increases were reported in the average cost of green peppers [+21.1%], eggs [+12.3%], lettuce [+9.1%], ice cream [+4.4%] and baby food [+2.9%].
“*Note: In summary, each month, the Government measures the annual rate of inflation and the monthly rate of inflation – annual rates are changes from the same month last year, and monthly rates are the changes from the previous month.”
The full April 2022 Consumer Price Index follows below [PDF here]:
Embarrassing PLP lies. Pure lies.