Statistics Jersey have today (21/01/2022) published the December 2021 Retail Prices Index report.
The 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 report shows that:
- during the twelve months to December 2021 the All Items Retail Prices Index (RPI) for Jersey increased by 3.8% to stand at 188.3 (June 2000 = 100)
- the increase in the RPI over the twelve months to September 2021 was 2.9%; hence the annual rate of inflation increased by 0.9 percentage points (pp) since last quarter
- this increase in the annual rate of inflation was due to upward contributions from a several groups, notably the Food and Motoring groups saw prices increase by more, on average, over the twelve months to December 2021 than over the twelve months to September 2021
- prices in the Fares & other travel group increased by less, on average, over the twelve months to December 2021 than the same period of time to September 2021, giving a slight downward contribution to the change in the annual rate of increase
- underlying inflation, as measured by the annual change in RPI(Y), increased by 3.6% over the twelve months to December 2021
- the rate of underlying inflation, RPI(Y), increased by 0.9 pp since September 2021 (up from 2.7%)
- over the twelve months to December 2021:
- RPI(X) increased by 3.5%
- RPI Pensioners increased by 4.0%
- RPI Low Income increased by 3.3%
- the annual rates of increase for RPI, RPI(X), RPI(Y), RPI Pensioners and RPI Low Income, in December 2021, were all higher than the December 2020 rates by at least 1.4 pp
- the rate of inflation in Jersey over the twelve months to December 2021, as measured by the RPI, was 1.0 pp lower than the broadly comparable headline rate of inflation for the UK