Consumers Price Index

CPI is the quarterly measure of the changes to the prices of consumer items purchased by households, which gives a measure of inflation.

Consumers Price Index

Consumers Price Index - September quarter 2018

 

The Consumers Price Index (CPI) is an indicator or measure of prices changes. It is a fixed weighted average of price relatives and is computed using the Laspeyres price index formula. The current weighting pattern is based on the 2005 Household Expenditure Survey (HES), which was carried out in  2005/06. The HES information was used to select the 'basket', which is the commonly used term for the goods and services prices for the purpose of compiling the CPI.

Key facts

Quarterly change
In the September 2018 quarter compared with the June 2018 quarter:
  • The Consumer Price Index(CPI) All Groups decreased by 0.68 per cent
  • The Underlying Index rose by 0.21 per cent
  • Transport showed the highest decrease of 4.47 per cent caused by an increase in:
  • Overseas Travel down by 18.3 per cent
  • Housing and Food group prices fell by 0.22 and 0.04 per cent
  • Apparel, Household Operation, Tobacco & Alcohol and Miscellaneous group increased by 0.83 per cent, 0.67 per cent, 0.38 per cent and 0.15 per cent

 Annual Change
From September 2017 quarter to September 2018 quarter:
  • The Consumer Price Index(CPI) fell by 0.7 per cent
  • Annual Average Inflation Rate rose by 0.3 per cent
  • Alcohol & Tobacco decreased by 2.0 per cent
  • Transport fell by 0.8 per cent
  • Food Group prices decreased by 0.2 per cent

CPI 201803 Graph1

CPI 201803 Graph2

CPI 201803 Graph3


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Information about CPI

The Consumer Price Index covers price changes of the basket of goods and services consumed by all households on Rarotonga (the main island).

The base year is 2006. Prices are collected for 205 items and from selected outlets around Rarotonga. Individual prices are combined using weights from the Household Expenditure Survey (HES) conducted in 2004/5. The HES information was used to select the basket of goods and services.

The inclusion of an underlying measure is a recent improvement and it is published at the same time as the CPI. The underlying measure excludes items of a highly volatile nature, items that are subject to policy changes.

It excludes all locally produced fruit, vegetables, meat and fish; international airfares; mortgage interest, government rent, postal and telecommunication charges, electricity charges; tobacco and alcohol; petrol and diesel.

The CPI is computed using the Laspeyres price index formula.

Downloads

pdfCPI: September quarter 2018

xlsxCPI: September quarter 2018 - Tables