Saipan quarterly inflation rate decreases by 2.1 pct.

The Central Statistics Division of the Department of Commerce has released its Consumer Price Index report for the first quarter of 2014 to the first quarter of 2015.

According to initial information released, the 2015 first quarter CPI report for Saipan showed a quarterly inflation rate decrease of 2.1 percent.

The full report is yet to be uploaded to the department’s website.

Other initial data for Saipan showed that transportation had the greatest decrease, negative 8.0 percent, compared to the last quarter. Those under the category “other goods and services” continued to show the largest increase compared to the last quarter, which is now at 4.3 percent.

For Tinian, a 0.9 percent decrease was shown under the all items quarter inflation. During the last quarter, the apparel and food categories had the largest increase with a rise of 2.4 and 1.6 percent, respectively.

For Rota, the report showed “negligible change” from the previous quarter, while the other goods and services category showed the largest increase of 2.3 percent.

The statistical information reflected in the CPI publication contains information that measure quarterly changes in prices of a fixed basket of goods and services, which represents purchases by households in the CNMI.

Other than the categories mentioned, alcoholic beverage, housing and utilities, medical care, education, and recreation were also studied.

The report also shows the annual inflation rates as well as the average price comparisons of selected items across the three islands.

“Despite predominant urgencies, shortage of capacity and resources, and the recent devastation by the typhoon, my CSD staff continue to strive to meet the benchmarks as set forth in the Statistical Act in publishing mandated quarterly reports,” Commerce Secretary Mark O. Rabauliman said.

According to Gov. Eloy S. Inos, the CPI report is “an essential tool for the public, the business community and my fellow policymakers to use as a guide when making important and sound decisions.”

Inos said the “fluctuations of the index shown in the report reflect increases and decreases of prices of goods and services in the Commonwealth that are mostly influenced by producers outside the NMI, therefore making us more vulnerable to the most subtle changes in the markets out there, most especially the price of oil, which affects the cost of shipping and over all prices of these landed goods and services.”

The report will be available to the public at http://commerce.gov.mp/divisions/central-statistics/.