St Helena : St Helena RPI INFLATION DROPS TO 3.9% IN QUARTER 3
Submitted by Saint Helena Herald (Public Relations Information Office) 27.10.2012 (Article Archived on 10.11.2012)
New data shows inflation for low expenditure households has been lower than the average
Annual inflation on the retail price index fell from 6.1 per cent in Q2 2012 to 3.9 per cent in Q3 2012. This is the lowest rate of annual inflation for over 5 years.
RPI INFLATION DROPS TO 3.9% IN QUARTER 3
New data shows inflation for low expenditure households has been lower than the average
Annual inflation on the retail price index fell from 6.1 per cent in Q2 2012 to 3.9 per cent in Q3 2012. This is the lowest rate of annual inflation for over 5 years.
This quarter also sees the release of a new piece of analysis which looks at inflation by expenditure groups. Two groups have been analysed - low and high expenditure. Data shows that over the past year RPI inflation for low expenditure households has been 5.4%, compared to 6.5% for high expenditure households (and 6.2% for the average).
Delving behind the headline figures the following trends are of note:
The Service sector accounted for the greatest reduction in the headline rate of RPI inflation, due to the increase in service tax (introduced in Q3 2011) no longer having an effect on the annual inflation rate as it occurred over a year ago.
The Food, Housing, Fuel and Light, Miscellaneous Goods, and Service sectors, which together account for 72.9 per cent of the average St Helenian shopping basket, have annual inflation rates below their 5 year averages.
While the annual rate of inflation continues to be positive for every sub-index, average rates eased significantly.
The rate of RPI annual inflation for Q3 on St Helena was 3.9 per cent, compared to 2.9 per cent in the UK.
Statistics Office
SHG
24 October 2012
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