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Consumer Price Index

The Consumer Price Index (CPI) is a measure which provides information on the cost of living for the FSM, including each of the four states which make up the FSM.  It achieves this by producing an index, which indicates the cost of living at a particular time point, which in turn can be compared to other time points to determine if the cost of living is increasing or decreasing.

The index is produced by collecting prices for a “basket” of goods each quarter, which reflects the spending patterns of a typical household in FSM (nb: the “basket” changes slightly between the states, due to the different spending patterns of each of the four states).  These prices are then monitored over time to determine if the cost for each item has increased or decreased.  This ‘basket’ covers a wide range of goods and services, arranged in the following seven groups: Food; Alcohol, tobacco, sakau & betelnut; Clothing & footwear; Housing; Fuel, light & water; Services; and Miscellaneous.  For more information on what items make up each group.

 

 Annual Inflation Rate: FSM – CY2017 to CY2018

The FSM inflation rate for fourth quarter 2018 was 2.4 percent. This increase reflected the increases in Housing, water, electricity, gas and other fuels group, Transport group, and Recreation and culture group. On a state basis, the annual inflation rate for fourth quarter 2018 was 0.7 percent in Kosrae, 2.1 percent in Pohnpei, 4.7 percent in Chuuk and 0.1 percent in Yap.

Click here for 2018 Consumer Price Index detailed tables updated

Annual Contribution to Change:  FSM and State – CY2018

Contributions to Change: CY2018