The Central Bureau of Statistics presents the most important findings for the Consumer Price Index (CPI) for the month of April 2021.
Consumer Price Index for the month of April 2021
The CPI for April 2021 is 97.57, a decrease of 0.02% compared to the index of March 2021 (97.59) and accumulating an increase of 0.5% up to and including April of this year. The percentage change of the CPI over the last twelve (12) months (April 2020 to April 2021) is -0.4, an increase of 0.5 percentage points (ppts) compared to the percentage change for the same period of last year (-0.9%). The period average percentage change of the CPI for the period April 2020 – April 2021 is -2.3%, a decrease of 5.5 ppts compared to the period average percentage change over the period April 2019 – April 2020 (3.2%). During this month, five (5) of the twelve (12) sectors registered decreases in prices. The decreases that had the greatest influence on the CPI were registered for the “Household operation” (-2.6%) and “Recreation and culture” (-1.8%) sectors, which contributed with an effect of -0.24 and -0.18 ppts. The decreases in the remaining sectors had an effect of -0.16 ppts on the CPI of April 2021. Aforementioned decreases were partially offset mainly by increases in the indices for the “Transport” (2.4%) and “Housing” (0.7%) sectors, causing an effect of 0.31 and 0.17 ppts, respectively. The increases in the remaining sectors had an effect of 0.08 ppts on the CPI of April 2021. The decrease in the “Household operation” sector was mainly due to a decrease in the category “Household appliances” (-9.7%), which contributed to an effect of -0.26 ppts. The decrease in the “Recreation and culture” sector was mainly due to a decrease in the category “Audio-visual, photographic and information processing equipment” (-22.8%), which contributed to an effect of -0.15 ppts. The increase in the “Transport” sector was mainly due to an increase in the category “Operation of personal transport equipment” (3.7%), which contributed to an effect of 0.28 ppts. The increase in the “Housing” sector was caused by an increase of 3.0% in the category “Maintenance and repair of the dwelling”, which contributed to an effect of 0.16 ppts.
Consumption basket
The consumption basket of the CPI consists of 408 goods and services. Compared to March 2021, 34.6% of these products had an increase in price, causing an effect of 0.81 ppts, while 47.1% showed a decrease, contributing to an effect of -0.83 ppts and the remaining 18.4% had no change in price. The prices of goods decreased by 0.03% and caused an influence of -0.02 ppts. The prices of services showed a slight decrease of 0.01% and had an insignificant influence on the CPI of April 2021.
Core inflation
The CPIC (core inflation) – CPI excluding the effect of energy and food – was -1.4% in April 2021. The energy index – which consists of the products: electricity, water, gasoline and diesel – was -6.1%. The food index showed a decrease of -2.6%.
Subsistence level
The subsistence level for a household consisting of two (2) adults and two (2) children (aged 0-15 years) in April 2021 is Afl. 4,750, a decrease of Afl. 71 compared to April 2020 (Afl. 4,821). The subsistence level for a single adult household is Afl. 2,262, a decrease of Afl. 34 compared to April 2020 (Afl. 2,296).
Change in prices of crude oil, utilities, gasoline and diesel in April 2021
The prices of utilities (electricity and water), gasoline and diesel are for the greater part determined by international crude oil prices. In April 2021 the average price per barrel of crude oil (US$ 61.52) had a decrease of US$ 1.10 (-1.8%) compared to March 2021 (US$ 62.62). The prices of electricity and water did not change compared to March 2021. Subsequently, the average electricity price per household remained at Afl. 240.09, while the average price of water per household remained at Afl. 137.05. In April 2021 the price of gasoline registered an increase of Afl. 12.82 cents (6.1%) and had an effect of 0.27 ppts on the CPI. The price of diesel registered an increase of Afl. 4.90 cents (2.9%) and had an effect of 0.01 ppt on the CPI of April 2021. In April 2021, utilities, gasoline and diesel as a group showed an increase in price of 1.7% compared to March 2021, and had an influence of 0.28 ppts on the CPI, while the remaining 404 goods and services, as a group, show a decrease of 0.4% and had an effect of -0.30 ppts on the CPI.
Change in prices of Food & catering services in April 2021
The “Food & catering services” index showed an increase of 0.3% in April 2021, after declining in each of the six previous months. The index for “Food at home” showed an increase of 0.5% in April, as seven (7) of the eleven (11) “Food at home” indices increased in April 2021. The “Potatoes and other tubers” index registered the largest increase (1.7%) in April 2021. Furthermore, increases were posted in the indices for “Meat” (1.2%), “Vegetables” (0.8%), “Bread and cereals” (0.6%) and “Milk, cheese and eggs” (0.5%). The “Sugar, jam, honey and other confectionery” (-0.5%) index registered the largest decrease in April 2021. Furthermore, decreases were posted in the indices for “Nonalcoholic beverages” (-0.3%), “Oils and fats” (-0.2%) and “Fruit” (-0.2%). Over the last twelve (12) months, the “Food & catering services” has decreased by 1.6%. The “Food at home” index showed a decrease of 2.5%. The “Potatoes and other tubers” index decreased by 11.7%, the largest decrease among the “Food at home” food groups, while the “Sugar, jam, honey and other confectionery” index increased by 0.8%, the only increase among the “Food at home” food groups. The index for “Food away from home” decreased by 0.02% in April 2021 and has increased by 0.5% over the last twelve (12) months. In April 2021, “Food at home” and “Food away from home” as a group showed an increase in price of 0.3% compared to March 2021, and had an influence of 0.05 ppts on the CPI, while the remaining goods and services, as a group, experienced a decrease in price of 0.1%, causing an effect of -0.07 ppts on the CPI.
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