Food prices jump 8.63% | Local company

THE day before fuel prices were expected to rise there, the Central Statistics Office (CSO), the government’s official source for statistics, reported that food and non-alcoholic beverage prices rose by 8, 63% between February 2021 and February 2022.

The category, food and non-alcoholic beverages jumped from 119.3 points in February 2021 to 129.6 points in February 2022.

The category of food and non-alcoholic beverages, which is the most important for a significant percentage of the population, contributes 17.3% to the overall index.

The all-items index, which measures all contributors to rising prices, increased by 4.18% between February 2021 and February 2022.

The category – housing, water, electricity, gas and other fuels – was 6.67% higher in February 2022 than a year earlier. This category is the largest measured by the CSO, contributing 27.5% to the overall index. In this category, homeownership increased by 8.27%, from 105.1 in February 2021 to 113.8. Home ownership represents 19.3% of the overall index.

Water, electricity, gas and other fuels, as a sub-category, showed no movement between February 2021 and February 2022. This category contributes 6% to the overall index . The transport category, which contributes 14.7% to the all-items index, increased by 2.21% between February 2021 and February 2022.

With premium gas up 17.4% to $6.75, premium up 20.1% to $5.97 and diesel up 14.66% to $3.91 per litre, the transport sub-index and the water, electricity, gas and other fuels sub-index are expected to rise higher when the CSO measures the April 2022 numbers.

In its report, the CSO said: “The all-items retail price index calculated from prices collected for the month of February 2022 was 114.4, which represents an increase of 0.3 points or 0 .3 percent compared to the all-items index for January 2022. .

“The food and non-alcoholic beverages index increased from 128.1 in January 2022 to 129.6 in February 2022, reflecting an increase of 1.2%. The general upward movement in whole-fresh chicken prices contributed significantly to this increase; White flour; snacks – fried, baked or roasted; parboiled rice; carrots; crix; other chilled or frozen chicken; whole chickens—frozen; whole milk; and Milo.

“However, the full impact of these price increases has been offset by the general decline in tomato prices; pumpkin; peppers; chive; powdered milk; full cream; potatoes; celery; green pepper (sweet); mixed fresh seasoning and sweet potatoes.

“A closer examination of the February 2022 data compared to January 2022 reflected an increase in the sub-indices for alcoholic beverages and tobacco by 0.7% and health by 0.1%.

However, a decrease was noted in the clothing and footwear sub-index of 0.1 percent. All other sections remained unchanged.