1. The Consumer Price Index, which stood at 106.9 in December 2015, registered a net increase of 2.5 points (or 2.3%) to reach 109.4 in December 2016.
2. The main reasons for the net increase in the CPI during the year 2016 were:
- higher prices for vegetables, meat, fish, fruits and some other food products;
- higher prices of cigarettes, rum and other cane spirits, and beer and stout;
- higher prices of footwear;
- higher doctors’ fees;
- higher fees for university and secondary tuition;
- higher prices in bars and restaurants;
- higher prices of some other goods and services;
partly offset by;
- lower prices of traders’ rice, milk, cereals and ginger;
- lower prices of cooking gas and electricity rates;
- lower interest on housing loan;
- lower prices of gasoline and diesel and
- lower prices of information processing equipment.
3. The headline inflation rate decreased from 1.3% in year 2015 to 1.0% in year 2016, the lowest rate since year 1987 (0.6%).
4. The headline inflation rate excluding 'Alcoholic beverages and tobacco' decreased from 1.2% in year 2015 to 0.2% in year 2016.
Ministry of Finance and Economic Development
16 January 2017