The Central Bureau of Statistics presents the most important findings for the Consumer Price Index (CPI) for the month of April 2022.
Consumer Price Index for the month of April 2022
The CPI for April 2022 is 102.16, an increase of 0.7% compared to the index of March 2022 (101.47) and accumulating an increase of 1.5% up to and including April of this year.
The percentage change of the CPI over the last twelve (12) months (April 2021 to April 2022) is 4.7, an increase of 5.1 percentage points (ppts) compared to the percentage change for the same period of last year (-0.4%).
The period average percentage change of the CPI for the period April 2021 – April 2022 is 2.6%, an increase of 4.9 ppts compared to the period average percentage change over the period April 2020 – April 2021 (-2.3%).
During this month, four (4) of the twelve (12) sectors registered increases in prices. The increases that had the greatest influence on the CPI were registered for the “Transport” (7.5%) and “Food and non-alcoholic beverages” (1.5%) sectors, which contributed with an effect of 1.04 and 0.17 ppts, respectively. The increases in the remaining sectors had an effect of 0.03 ppts on the CPI of April 2022.
Aforementioned increases were partially offset mainly by decreasesin the indicesfor the “Clothing and footwear” (-9.0%) and “Household operation” (1.7%) sectors, causing an effect of -0.25 and -0.16 ppts, respectively. The decreases in the remaining sectors had an effect of -0.15 ppts on the CPI of April 2022.
The increase in the “Transport” sector was mainly due to an increase in the category “Operation of personal transport equipment” (7.7%), which contributed to an effect of 0.68. The increase in the “Food and non-alcoholic beverages” sector was mainly due to an increase in the category “Food” (1.7%), which contributed to an effect of 0.16 ppts.
The decrease in the “Clothing and footwear” sector was mainly due to a decrease in the category “Clothing” (-9.0%), which contributed to an effect of -0.19 ppts. The decrease in the “Household operation” sector was mainly due to a decrease in the category “Household appliances” (-8.0%), which contributed to an effect of -0.21 ppts.
Consumption basket
The consumption basket of the CPI consists of 408 goods and services. Compared to March 2022, 44.6% of these products had an increase in price, causing an effect of 1.84 ppts, while 40.4% showed a decrease, contributing to an effect of -1.17 ppts and the remaining 15.0% had no change in price. The prices of goods increased by 0.8% and caused an influence of 0.49 ppts. The prices of services showed an increase of 0.5% and had an influence of 0.19 ppts on the CPI of April 2022.
Core inflation
The CPIC (core inflation) – CPI excluding the effect of energy and food – was 1.2% in April 2022. The energy index – which consists of the products: electricity, water, gasoline and diesel – was 8.8%. The food index showed an increase of 3.0%.
Subsistence level
The subsistence level for a household consisting of two (2) adults and two (2) children (aged 0-14 years) in April 2022 is Afl. 5,003, an increase of Afl. 253 compared to April 2021 (Afl. 4,750). The subsistence level for a single adult household is Afl. 2,382, an increase of Afl. 120 compared to April 2021 (Afl. 2,262).
Change in prices of crude oil, utilities, gasoline and diesel in April 2022
The prices of utilities (electricity and water), gasoline and diesel are for the greater part determined by international crude oil prices. In April 2022 the average price per barrel of crude oil (US$ 102.29) had a decrease of US$ 6.29 (-5.8%) compared to March 2022 (US$ 108.58).
The prices of electricity and water did not change compared to March 2022. 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 2022 the price of gasoline registered an increase of Afl. 30.00 cents (11.5%) and had an effect of 0.61 ppts on the CPI. The price of diesel registered an increase of Afl. 45.70 cents (20.0%) and had an effect of 0.07 ppts on the CPI of April 2022.
In April 2022, utilities, gasoline and diesel as a group showed an increase in price of 4.1% compared to March 2022, and had an influence of 0.68 ppts on the CPI, while the remaining 404 goods and services, as a group, were unchanged and had no effect on the CPI.
Change in prices of Food & catering services in April 2022
The “Food & catering services” index showed an increase of 1.2% in April 2022, after an increase of 0.6% in March 2022. The index for “Food at home” showed an increase of 1.5% in April, as nine (9) of the eleven (11) “Food at home” indices increased in April 2022. The “Bread and cereals” index registered the largest increase (3.9%) in April 2022. Furthermore, other significant increases were posted in the indicesfor “Fish and other seafood” (3.7%), “Milk, cheese and eggs” (2.7%), “Vegetables” (2.5%) and “Sugar, jam, honey and other confectionery” (1.8%). The only decreases were registered in the indices of “Potatoes and other tubers” (-2.8%) and “Fruit” (-0.7%).
Over the last twelve (12) months, the “Food & catering services” has increased by 7.5%. The “Food at home” index showed an increase of 8.3%, where all of the “Food at home” indices increased over the last year. The “Oils and fats” index increased by 21.1%, the largest increase among the “Food at home” food groups. Furthermore, other significant increases were posted in the indices for “Fruit” (11.8%), “Meat” (9.3%), “Bread and cereals” (9.1%) and “Fish and other seafood” (8.6%). The index for “Food away from home” increased by 0.5% in April 2022 and has increased by 5.5% over the last twelve (12) months.
In April 2022, “Food at home” and “Food away from home” as a group showed an increase in price of 1.2% compared to March 2022, and had an influence of 0.19 ppts on the CPI, while the remaining goods and services, as a group, experienced an increase in price of 0.6%, causing an effect of 0.49 ppts on the CPI.
