The headline inflation rate was 10.8% for year 2022, compared to 4.0% for the year 2021. This is perhaps of the highest in recent years. Statistics Mauritius has just published his report. We think covid and conglit in Ukrane do have some impact.
Based on past trends, recent market conditions and price changes, the headline inflation rate for calendar year 2023 is forecasted at around 7.2%, compared to 10.8% in 2022. Inflation is the percentage change in the level of prices (as measured by the CPI) from one period to another. The headline inflation rate excluding ‘Alcoholic beverages and tobacco’ was 11.0% for year 2022, compared to 3.7% for year 2021. The headline inflation rate for the twelve months ending September 2023 worked out to 9.0%, compared to 9.4% for the twelve months ending September 2022.
The headline inflation rate excluding “Alcoholic beverages and tobacco” for the twelve months ending September 2023 worked out to 8.8%, compared to 9.3% for the twelve months ending September 2022.
The Consumer Price Index, which stood at 131.7 in June 2023, registered a decrease of -0.1 point (or -0.1%) to reach 131.6 in September 2023. On a monthly basis, the CPI decreased by 0.4 point in July, increased by 0.4 point in August and decreased by 0.1 points in September 2023.
Measurement of the CPI
The CPI measures price change by comparing, through time, the cost of a fixed basket of goods and services. As prices vary over time, the total cost of the basket also changes and thus the CPI measures the change in the cost of this basket. It provides a way to compare what this basket costs at a given period relative to a reference or base period.
The prices used in the CPI calculation are those that any member of the public would have to pay to purchase the specified goods or services. Any taxes on products attached to the goods are included.
Price collection is done on a regular basis. Each month, around 8,000 price quotations are collected in respect of 1,093 item indicators from some 520 outlets selected to be representative of regions across the islands of Mauritius and Rodrigues.
Prices of non-perishable items are collected monthly in the nine geographical districts of the island of Mauritius and in Rodrigues.
Prices of fresh fruits, vegetables, meat and fish are collected on a weekly basis from 9 markets in Port Louis, Rose Hill, Quatre Bornes, Vacoas, Mahebourg, Flacq, Goodlands, Pamplemousses and Port Mathurin.
