By Tina Mata’afa-Tufele Elise
The price of food has skyrocketed compared to this time last year with the latest data showing an alarmingly steep 10.9 percent increase and the biggest average annual inflation rate Samoa has seen in 13 years.
This is according to the Consumer Price Index (C.P.I.) report released on Wednesday by the Samoa Bureau of Statistics (S.B.S.).
The impact of the COVID-19 pandemic and the Ukraine war are some of the contributing factors to the increase, Acting Government Statistician or Acting Chief Executive Officer Vaasiliega Ailepata Simanu told Newsline Samoa.
The average annual inflation rate (not to be confused with the C.P.I.) for the year ended June 2022 is 8.8 percent.
“The average annual inflation rate for the year ended June 2022 was 8.8 percent. This was the biggest increase in the last 13 fiscal years ending June,” the C.P.I. report says.
The C.P.I. measures the rate of inflation for the country. It is designed to measure the change in prices for goods purchased by households in Samoa.
The latest report covers the month of June. Between May and June of 2022, the C.P.I. rose 3.2 percent.
The increase is due to higher prices for fuel (petrol, diesel and kerosene), imported foods and other items.
“The Consumer Price Index for June 2022 increased 3.2 percent compared to May 2022 and further went up by 10.9 percent in comparison to June 2021,” the report summary states.
“The increase was mainly influenced by the increase in the Imported Goods Component by 4.2 percent from the previous month, as a result of higher prices for fuel, imported food, refrigerator, futon mattress and hygienic products such as washing soap.”
Food and non-alcoholic beverages were the largest contributors to the 3.2 percent rise in the C.P.I. in June 2022, with prices up 3.6 percent from the previous month.
“An increase of 3.6 percent in the Food & Non Alcoholic Beverages index was a reflection of higher prices recorded for chicken leg quarter, vegetable oil, butter, milk (Devondale and Anchor), ice cream, fresh fish (piece), mutton neck, sausage, salted beef, coffee, bread and round pancake,” the report explains.
In the span of one month, the price of butter went up 9.9 percent; the price for chicken leg quarters increased by 8 percent and bread is up by 5.6 percent.
The next largest contributor was transport, which rose 7.5 percent.
Taro prices rose 18.4 percent in June 2022 compared to May 2022 but more than doubled its price of June 2021.
The greatest drivers of this increase in transport were airline fares (Apia-Auckland-Apia) and petrol, which rose 16.0 percent and 12.0 percent respectively from the previous month.
The prices at restaurants have show an 8.5 percent increase.
“The restaurants index recorded an increase of 8.5 percent due to the rise in prices for the mostly consumed meals such as fish & chips, chicken & chips, curry & chop suey, steam rice & chicken,” the report states.
The report dated 15 June, 2022 is signed by Acting Government Statistician Vaasiliega.