19 July 2019
Statistics Jersey has today published the June 2019 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 2019 report shows:
- during the twelve months to June 2019 the All Items Retail Prices Index (RPI) for Jersey increased by 2.8% to stand at 178.4 (June 2000 = 100)
- almost all groups saw prices increase, on average, on an annual basis
- the Housing, Household services and Leisure services groups were the largest contributors to the overall annual increase in the RPI
- key drivers in the Housing group were the increased cost of house purchase due to higher mortgage interest payments and increased rental costs
- the increase in the RPI over the twelve months to March 2019 was 3.6%; hence, the annual rate of inflation fell by 0.8 percentage points (pp) in the latest quarter
- this fall in the annual rate of inflation was due to several groups seeing lower rates of price increase over the twelve months to June 2019 than over the twelve months to March 2019, notably Household services and Motoring
- underlying inflation, as measured by the annual change in RPI(Y), increased by 2.4% over the twelve months to June 2019
- over the twelve months to June 2019:
- RPI(X) increased by 2.6%
- RPI Pensioners increased by 2.3%
- RPI Low Income increased by 2.6%
- the latest annual rates of increase of all consumer price indices were lower than in March 2019
- the headline rate of inflation, as measured by the annual change in the RPI, was the lowest for two years, since June 2017
- the rate of inflation in Jersey over the twelve months to June 2019 was 0.5 pp greater than that of the comparable measure for the UK; this represents the smallest difference between the rates of inflation in the two jurisdictions for 18 months
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