Statistics Jersey have today published the September 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 September 2021 report shows:
- during the twelve months to September 2021 the All Items Retail Prices Index (RPI) for Jersey increased by 2.9% to stand at 186.7 (June 2000 = 100)
- the increase in the RPI over the twelve months to June 2021 was 3.5%; hence the annual rate of inflation decreased by 0.6 percentage points (pp) since last quarter
- this decrease in the annual rate of inflation was due to downward contributions from a few groups, notably:
- the Fares & other travel and Personal goods & services groups saw prices increase by a smaller amount over the twelve months to September 2021 than they did over the same time period to June 2021; within these two groups, the downward contributions of policies introduced in response to the COVID-19 pandemic were active in June 2020 but were no longer in effect in September 2020, thus reducing the annual increase in RPI to September 2021; the main measures that impacted these groups were respectively the suspension of parking charges in Government-owned car parks and the lower cost of GP fees
- smaller upward contributions arose from many groups experiencing price increases over the twelve months to September 2021; these contributions were of a similar rate over the same period to June 2021
- underlying inflation, as measured by the annual change in RPI(Y), increased by 2.7% over the twelve months to September 2021
- the rate of underlying inflation, RPI(Y), decreased by 0.7 pp since June 2021 (down from 3.4%)
- over the twelve months to September 2021:
- RPI(X) increased by 2.7%
- RPI Pensioners increased by 3.1%
- RPI Low Income increased by 2.7%
- the annual rates of increase for RPI, RPI(X) and RPI(Y) in September 2021 were all higher than the September 2020 rates by at least 0.8pp
- the rate of inflation in Jersey over the twelve months to September 2021, as measured by the RPI, was the same as the broadly comparable headline rate of inflation for the UK