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Retail Prices Index report December 2017

Produced by the Statistics Jersey (Strategic Policy, Planning and Performance)
Authored by Statistics Unit and published on 19 Jan 2018
Prepared internally, no external cost

Summary

‚ÄčThe All Items Retail Prices Index (RPI) is the main measure of inflation in Jersey. It measures the change from quarter to quarter in the price of the goods and services purchased by an average household in Jersey.

The December 2017 report shows:

  • During the twelve months to December 2017 the All Items Retail Prices Index (RPI) for Jersey increased by 3.6% to stand at 168.8 (June 2000 = 100)
  • The increase in the RPI over the twelve months to September 2017 was 3.1%; hence, the annual rate of inflation increased by 0.5 percentage points (pp) in the latest quarter
  • This latest increase in the annual rate of inflation was primarily due to the Housing and Food groups seeing greater rates of price increase over the twelve months to December 2017 than over the twelve months to September 2017:
    • mortgage interest payments increased, on average, over the twelve months to December 2017, due to an increase in the Bank of England base rate  being passed on by some lenders
    • the annual increase in Food prices was the highest recorded for almost six years, since March 2012
  • RPI(X) increased by 3.5% over the twelve months to December 2017
  • underlying inflation, as measured by RPI(Y), increased by 3.5% over the twelve months to December 2017
  • RPI Pensioners increased by 3.6% and RPI Low Income increased by 3.3% over the twelve months to December 2017
  • In December 2017, both headline inflation (the annual change in the RPI) and underlying inflation were the highest recorded for almost six years, since March 2012

Jersey Retail Prices Index December 2017 report
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