Residents paying a record 12.8% more for food than a year ago

Antiguans and Barbudans have been complaining about paying way more for food at the check-out at supermarkets they are not exaggerating.

According to reports from the Statistics Division, Food Index, food rose by 12.8% over the last twelve months.

“The index for Oils and Fats rose 23.8% over the year. The average price of Glow Spread margarine rose from $7.54 to $ 8.64 while a one-liter bottle of Soya oil rose from $6.66 to $10.19. The remaining major supermarket food groups posted increases ranging from 6.3% (Fruits) to 18.3% (Meat and Meat Products)”.

The Statistics Division, under the Ministry of Finance and Corporate Governance, releases the CPI for Aug 2022

“The index for Fruits advanced by 6.3% with the sub-category Fresh or Chilled Fruit increasing by 5.7%. The increase was impacted by the average price per pound for watermelon which rose from $3.51 to $4.60. There were also increases in the prices of apples, grapes, and pears. The index for Meat and Meat Products rose 18.3%. The index for Poultry rose 27.6% with all seven commodity prices increasing. The index for Delicatessen and Other Meat Products grew 22.1% over the year,” according to the Index report.

The Energy index increased by 11.0% a smaller percentage increase than the 17.1% in July 2022. The decline has been attributed to the reduction of diesel and gasoline at the pump which took effect after the collection period in July 2022. The Index for All Items Less Food and Energy rose 7.0% over the last twelve months.

In August alone, the Food Index rose 2.8% as seven of the nine major supermarket food indexes increased.

“The Index for Vegetables rose 5.1% with the subcategories Fresh and Chilled Potatoes increasing 8.5% and Fresh and Chilled Vegetables rising 6.4%. The index for Fruit increased by 4.0% in August. The index for Meats and Meat Products increased by 2.8% a larger increase than the 1.0% increase in July. The index for Sugars, Jams, Honey, Chocolate, and Confectionery fell 2.3% with the index for Sugar declining 5.6% over the one month,” the report said.

In case you’re wondering how the Consumer Division derives from the analysis, well the All-Items Consumer Price Index (CPI) is the main measure of what is commonly called inflation, or headline inflation. It measures the change in prices, on average, from month to month, and from year to year of the goods and services bought by most households.

Prices are collected monthly and quarterly from supermarkets and other suppliers of goods and services.