27 April 2022
Statistics Jersey have today published the March 2022 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 March 2022 the All Items Retail Prices Index (RPI) for Jersey increased by 6.0% to stand at 194.6 (June 2000 = 100)
- this March 2022 twelve month increase in the RPI is the largest since September 2008
- the increase in the RPI over the twelve months to December 2021 was 3.8%; hence the annual rate of inflation increased by 2.2 percentage points (pp) since last quarter
- this increase in the annual rate of inflation was due to upward contributions from most groups, notably the Housing, Fuel & light, and Motoring groups saw prices increase by more, on average, over the twelve months to March 2022 than over the twelve months to December 2021
- prices in the Personal goods & services group increased by less, on average, over the twelve months to March 2022 than the same period of time to December 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 5.2% over the twelve months to March 2022
- the rate of underlying inflation, RPI(Y), increased by 1.6 pp since December 2021 (up from 3.6%)
- over the twelve months to March 2022:
- RPI(X) increased by 5.2%
- RPI Pensioners increased by 6.2%
- RPI Low Income increased by 5.2%
- in March 2022, the annual rates of increase for RPI, RPI(X), RPI(Y), RPI Pensioners and RPI Low Income, were:
- all higher than the December 2021 rates by at least 1.6 pp
- the highest for at least 10 years
- the rate of inflation in Jersey over the twelve months to March 2022, as measured by the RPI, was 0.2 pp lower than the broadly comparable headline rate of inflation for the UK
gov.je