Consumer price index, 15 April 2012

The Consumer Price Index (CPI) was 131.7 (1998=100) as per April 2012, compared with 131.3 in the corresponding period in 2011. This was equivalent to a year-to-year growth of 0.3 per cent in April 2012, down 0.5 percentage points from March. The year-to year growth in the CPI adjusted for tax changes and excluding energy products (CPI-ATE) was 0.7 per cent in April 2012, down 0.8 percentage points from the previous month.

Weak growth in the CPI from March to April

The CPI rose by 0.1 per cent from March to April 2012. The main cause of the growth in the CPI was increased prices of books. Following the yearly “Mammut” sale in March, the prices of books increased by 16.4 per cent in April. The prices of fuels and lubricants increased by 2.2 per cent, while package holiday prices increased by 4.0 per cent. Higher prices were also measured for clothing, boats and boating equipment, among others.

From March to April, the prices of food decreased by 1.6 per cent, and the main contributors were the sub-groups fish, vegetables together with milk, cheese and eggs. In the same period, the prices of electricity including grid rent together with airline fares fell by 2.1 and 4.2 per cent respectively.

CPI increased by 0.3 per cent in last twelve months

The CPI rose by 0.3 per cent from April 2011 to April 2012. Operation of personal transport equipment contributed the most, with a price increase of 4.6 per cent, which was mainly caused by increased prices of fuel and lubricants together with maintenance and repair of personal transport equipment. In the same period, imputed rentals for owner-occupiers rose by 1.7 per cent, while the prices of restaurant services and actual charges for financial services increased by 4.1 and 6.2 per cent respectively. Other contributors to the growth were, among others, alcoholic beverages and tobacco together with non-alcoholic beverages.

The year-to-year growth was mainly dampened by a 21.1 per cent decrease in the prices of electricity including grid rent. Airline fares fell by 30.7 per cent from April 2011 to April 2012. In the same period, price falls were also registered for audio-visual equipment, telephone services and clothing.

Changed year-to-year growth from March

The year-to-year growth in the CPI fell from 0.8 per cent in March to 0.3 per cent in April 2012 mainly due to the price development of airline fares. Airline fares fell by 4.2 per cent from March to April this year, while increasing by as much as 54.2 per cent in the corresponding period last year. The strong price increase last year must be seen in connection with the price collection period that coincided with the Easter holiday travelling, while this was not the case this year. The food prices also contributed to the decrease since they declined by 1.6 per cent from March to April this year while only falling by 0.2 per cent in April last year.

The year-to-year growth in the CPI-ATE was 0.7 per cent in April, down 0.8 percentage points from March 2012.

Tables

Published tables