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Inflation St. Maarten reached 5,5 percent in April


PHILIPSBURG–According to the Department of Statistics on Monday, the consumer price index for St. Maarten increased by 0.8 per cent in April compared to that of February.

When comparing average consumer prices over a 12-month period (April 2011 to April 2012), an increase of 5.5 per cent was recorded compared to the same period one year earlier. The inflation rate has shown steady growth since April 2011, reaching an all-time high of 5.5 per cent in April 2012.

All nine expenditure categories became more expensive in April 2012. The expenditure categories that recorded the largest increases are: Food (+1.3 per cent), Beverages and Tobacco (+1.8 per cent), Clothing and Footwear (+1.7 per cent), Household Furnishing and Appliances (+1.3 per cent), Transport and Communication (+1.1 per cent).
The remaining four categories increased less than 1 per cent: Housing (+0.6 per cent), Medical Care (+0.5 per cent), Recreation and Education (+0.1 per cent) and Miscellaneous (+0.8 per cent).

All nine expenditure categories recorded inflation in April 2012. Housing, the category with the largest influence (39 per cent), increased at a rate of 4.8 per cent; Transportation and Communication, the second-largest category (20 per cent), at a rate of 4.2 per cent; and Food prices went up in the double-digits by 12.8 per cent.

Noteworthy is that although Food is the third-largest category, it has the second-largest contributing influence to the overall inflation rate. This is a direct result of the soaring inflation recorded in this category.

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