Consumer Price Index for the month of August 2021
The CPI for August 2021 is 98.84, an increase of 0.3% compared to the index of July 2021 (98.53) and accumulating an increase of 1.8% up to and including August of this year. The percentage change of the CPI over the last twelve (12) months (August 2020 to August 2021) is 1.4, an increase of 3.9 percentage points (ppts) compared to the percentage change for the same period of last year (-2.5%). The period average percentage change of the CPI for the period August 2020 – August 2021 is -1.1%, a decrease of 2.0 ppts compared to the period average percentage change over the period August 2019 – August 2020 (0.9%). During this month, seven (7) of the twelve (12) sectors registered increases in prices. The increases that had the greatest influence on the CPI were registered for the âHousehold operationâ (1.7%) and âRestaurants and hotelsâ (0.9%) sectors, which contributed with an effect of 0.15 and 0.13 ppts, respectively. The increasesin the remaining sectors had an effect of 0.34 ppts on the CPI of August 2021. Aforementioned increases were mainly partially offset by decreases in the indices for the âHousingâ (-0.6%) and âClothing and footwearâ (-3.6%) sectors, causing an effect of -0.15 and -0.09 ppts, respectively. The decreases in the remaining sectors had an effect of -0.07 ppts on the CPI of August 2021. The increase in the âHousehold operationâ sector was mainly due to increases in the categories âTools and equipment for house and gardenâ (16.9%) and âFurniture, furnishings, carpets and other floor coveringsâ (8.0%), which contributed to an effect of 0.10 and 0.08 ppts, respectively. The increase in the âRestaurants and hotelsâ sector was mainly due to an increase in the category âAccommodation servicesâ (150.4%), which contributed to an effect of 0.09 ppts. The decrease in the âHousingâ sector was mainly due to a decrease in the category âMaintenance and repair of the dwellingâ (-2.7%), which contributed to an effect of -0.15 ppts. The decrease in the âClothing and footwearâ sector was mainly caused by a decrease of 3.8% in the category âClothingâ, which contributed to an effect of -0.08 ppts.
Consumption basket
The consumption basket of the CPI consists of 408 goods and services. Compared to July 2021, 46.6% of these products had an increase in price, causing an effect of 1.27 ppts, while 37.7% showed a decrease, contributing to an effect of -0.95 ppts and the remaining 15.7% had no change in price. The prices of goods increased by 0.4% and caused an influence of 0.23 ppts. The prices of services showed an increase of 0.2% and had an influence of 0.09 ppts on the CPI of August 2021.
Core inflation
The CPIC (core inflation) – CPI excluding the effect of energy and food â was 0.2% in August 2021. The energy index – which consists of the products: electricity, water, gasoline and diesel â was 0.6%. The food index showed an increase of 0.7%.
Subsistence level
The subsistence level for a household consisting of two (2) adults and two (2) children (aged 0-15 years) in August 2021 is Afl. 4,817, an increase of Afl. 36 compared to August 2020 (Afl. 4,781). The subsistence level for a single adult household is Afl. 2,294, an increase of Afl. 18 compared to August 2020 (Afl. 2,276).
Change in prices of crude oil, utilities, gasoline and diesel in August 2021
The prices of utilities (electricity and water), gasoline and diesel are for the greater part determined by international crude oil prices. In August 2021 the average price per barrel of crude oil (US$ 67.62) had a decrease of US$ 4.99 (-6.9%) compared to July 2021 (US$ 72.61). The prices of electricity and water did not change compared to July 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 August 2021 the price of gasoline registered an increase of Afl. 5.00 cents (2.2%) and had an effect of 0.10 ppts on the CPI. The price of diesel registered an increase of Afl. 0.60 cents (0.3%) and had an insignificant effect on the CPI of August 2021. In August 2021, utilities, gasoline and diesel as a group showed an increase in price of 0.6% compared to July 2021, and had an influence of 0.11 ppts on the CPI, while the remaining 404 goods and services, as a group, show an increase of 0.2% and had an effect of 0.21 ppts on the CPI.
Change in prices of Food & catering services in August 2021
The âFood & catering servicesâ index showed an increase of 0.7% in August 2021, after an increase of 0.7% in July 2021. The index for âFood at homeâ showed an increase of 0.6% in August, as nine (9) of the eleven (11) âFood at homeâ indices increased in August 2021. The âPotatoes and other tubersâ index registered the largest increase (6.2%) in August 2021. Furthermore, increases were posted in the indices for âOils and fatsâ (5.3%), âFish and other seafoodâ (2.2%), âVegetablesâ (0.9%) and âMilk, cheese and eggsâ (0.8%). The âFruitâ (-1.1%) index registered the largest decrease in August 2021. Furthermore, a decrease was posted in the index for âNon-alcoholic beveragesâ (-0.2%). Over the last twelve (12) months, the âFood & catering servicesâ has increased by 0.9%. The âFood at homeâ index showed an increase of 0.4%. The âOils and fatsâ index increased by 4.2%, the largest increase among the âFood at homeâ food groups, while the âVegetablesâ index decreased by 5.8%, the largest decrease among the âFood at homeâ food groups. The index for âFood away from homeâ increased by 0.7% in August 2021 and has increased by 2.0% over the last twelve (12) months. In August 2021, âFood at homeâ and âFood away from homeâ as a group showed an increase in price of 0.7% compared to July 2021, and had an effect of 0.10 ppts on the CPI, while the remaining goods and services, as a group, experienced an increase in price of 0.3%, causing an effect of 0.21 ppts on the CPI.
