Consumer Price Index fourth quarter shows increases
The high cost of hard liquor and beer contributed to the 2.4% increase in the Alcohol Beverages Group in the 4th quarter of 2011 compared to the same period in 2010, according to the 4th quarter Consumer Price Index (CPI) report covering Oct.-Dec. 2011 released Tuesday by the local Commerce Department.
For the Food Group, it increased by 1% due to higher cost of shrimp, corn, curry spices, ham, Lipton tea, vegetable oil, lamb-flaps and coffee brew.
Housing Group hiked by 0.6% because of higher solid waste fees, Clorox, household paper products, other housekeeping supplies, screens, and chain saw.
Apparel Group recorded a 0.5% increase due to sewing materials, infants diapers, infants clothing, and infants dresses. Recreational Group hiked by just 0.3% while Education and Communication Group each recorded a 0.2% hike.
On the other hand, Transportation Group dropped by 0.1% due to low unleaded and diesel fuel costs. Medical Care Group decreased to 0.2% and Other Goods and Services Group dropped by 0.4% due to low costs of cigarettes.
According to the CPI report, the costs of goods and services measured for the 4th quarter registered at 129.1 index points - an increase of 0.5% from the third quarter of 2011 and an annual inflation recorded at 8.0% since the 4th quarter of 2010.