Consumer Price Index - 1^st Quarter 2024

Highlights

1.      The Consumer Price Index, which stood at 132.0 in December 2023, registered a net increase of 5.6 points (or +4.2%) to reach 137.6 in March 2024.

2.      The main contributors for the net increase in CPI from December 2023 to March 2024 were:

•           -   higher prices of vegetables (+3.5 points), fruits (+0.3 point), culinary herbs (+0.2 point), meat (+0.1 point), frozen semi-prepared foods (+0.1 point) and other food products (+0.4 point);
•           -   higher prices of beer and stout (+0.2 point), whisky (+0.1 point);
•           -   higher prices of ready-made clothing (+0.1 point);
•           -   higher workman's wages (+0.1 point);
•           -   higher charges for domestic services (+0.2 point);
•           -   higher doctors' fees (+0.2 point);
•           -   higher prices of motor vehicles (+0.1 point), offset by decrease in prices of gasoline (-0.3 point);
•           -   lower fees for private pre-primary school fees (-0.2 point);
•           -   higher prices of goods for personal care (+0.1 point) and, other goods and services (+0.4 point).
  
  3.      The headline inflation rate for the twelve months ending March 2024 worked out to 5.8 %, compared to 11.1% for the twelve months ending March 2023. 
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4.      The headline inflation rate excluding “Alcoholic beverages and tobacco" for the twelve months ending March 2024 worked out to 5.3%, compared to 11.4% for the twelve months ending March 2023.

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  Ministry of Finance, Economic Planning and Development

  16 April 2024           

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