24 July 2024
Statistics Jersey have today published the June 2024 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 June report shows:
- the All Items Retail Prices Index (RPI) for Jersey increased by 5.0% to stand at 233.0 (June 2000 = 100)
- the increase in the RPI was less than that to March 2024 (5.7%); hence the annual rate of inflation decreased by 0.7 percentage points (pp) since last quarter
- a few groups contributed to the decrease in the annual rate of inflation, most notably the housing group
- prices in most groups increased and these increases were similar to or less than those over the 12 months to March 2024, which resulted in an overall downward contribution to the annual rate of inflation
- housing was the price group that made the largest contribution to the annual rate of inflation, contributing +1.8 pp to the rate, driven by increases in the cost of mortgage interest payments
- the overall price change in the housing price group was lower compared with the 12 months to March 2024, hence its contribution to the change in rate of the RPI was -0.8 pp
- the increase in the RPI was 5.9 pp smaller than a year ago (10.9% in June 2023)
- RPI(Y), which measures underlying inflation, increased by 3.9%, which was 0.2 pp larger than the March 2024 rate (up from 3.7%)
- RPI(X) increased by 4.1%
- RPI Pensioners increased by 4.4%
- RPI Low Income increased by 4.0%
- annual changes in RPI(X), RPI(Y), RPI Pensioners, and RPI Low Income were 0.2 to 0.3 pp larger than those in March 2024
- the rate of inflation in Jersey as measured by the RPI, was 2.2 pp higher than the UK CPIH, which is the broadly comparable headline rate of inflation for the UK
Retail Prices Index June 2024
gov.je