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Jersey Chamber of Commerce

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Category: Local Business News  States of Jersey

June 2020 Retail Prices Index report

Jul 17, 2020


Statistics Jersey has today published the June 2020 Retail Prices Index (RPI) 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 June 2020 report shows:

  • during the twelve months to June 2020 the All Items Retail Prices Index (RPI) for Jersey increased by 0.5% to stand at 179.3 (June 2000 = 100)
  • the increase in the RPI over the twelve months to March 2020 was 2.7%; hence the annual rate of inflation decreased by 2.2 percentage points (pp) in the latest quarter
  • this decrease in the annual rate of inflation was largely the result of several groups giving downward contributions to the overall rate of increase of the RPI:
    • the Housing group saw prices increase at a lower rate over the twelve months to June 2020 than over the twelve months to March 2020, on average, driven by lower house purchase costs following reductions in the Bank of England Bank Rate 
    • Personal goods & services saw prices decrease, on average, over the twelve months to June 2020 having seen prices increase over the twelve months to March 2020, and the Fares & other travel group saw prices decrease at a greater rate, on average, over the same time periods
      • key downward contributors in each of these groups were the result of policies implemented in response to the COVID-19 pandemic: the lower cost of GP fees; and the suspension of parking charges in Government owned car parks, respectively
    • the Fuel & light and Motoring groups saw prices decrease, on average, over the twelve months to June 2020 having seen prices increase over the twelve months to March 2020
    • Household services and Leisure services saw prices increase at a lower rate, on average, over the twelve months to June 2020 than over the same period to March 2020 
  • underlying inflation, as measured by the annual change in RPI(Y), increased by 0.6% over the twelve months to June 2020 
  • the rate of underlying inflation decreased by 1.7 pp since March 2020 (down from 2.3%)
  • over the twelve months to June 2020:
    • RPI(X) increased by 0.8% 
    • RPI Pensioners increased by 0.3% 
    • RPI Low Income increased by 0.8% 
  • all indices of retail prices recorded their lowest annual rates of increase since September 2015
  • the RPI recorded its largest quarterly decrease for more than 11 years, since December 2008
  • the rate of inflation in Jersey over the twelve months to June 2020, as measured by the RPI, was 0.3 pp lower than the broadly comparable headline rate of inflation for the UK  

Read the full report here

Government of Jersey News Release.

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