P.R.’s Consumer Price Index remains flat, while value of the dollar drops
Puerto Rico’s Consumer Price Index remained virtually flat in May 2019, increasing 0.2% compared to April 2019, according to data released by the Puerto Rico Institute of Statistics.
Meanwhile, from May 2018 to May 2019 the General Price Index increased by 0.5%, the data showed.
Furthermore, the purchasing power of the consumer dollar dropped to .83 cents in May 2019, down one cent from the prior month, as well as the same month in 2018.
Last month’s Consumer Price Index revealed that the groups that showed an increase in their indexes were the following: Clothing, 1.2%; Other Items and Services 0.3%; Transportation, 0.3%; Medical Care, 0.1%; and Entertainment, 0.1%.
The Food and Beverage, Education and Communication, and Accommodation groups remained practically at the same level when compared to the previous month.
In the clothing group, the index showed a 1.2% increase in May 2019. This change was reflected in the subgroup of men’s and boys’ clothing (2.9%), caused, mainly, by a return to regular prices in dress and casual pants for men, except jeans, the Institute’s data showed.
Meanwhile, in May 2019 the index for the medical care group reflected an increase of 0.1%. This change was caused by the health care products group (0.3%), which showed an increase in the price of prescription drugs.
From May 2018 to May 2019 the General Price Index increased by 0.5%. The main groups that reflected increases in their indices were: Other Articles and Services, 3.9%; Education and Communication, 2.8%; Medical Care, 1.4%; Housing, 0.5%; Clothing, 0.5%; Food and Beverages, 0.2%; and Entertainment 0.2%. The group that showed a decrease in its index was Transportation, down 1.2%.
The Consumer Price Index is a statistical indicator that measures, between two specific periods, the average relative change in the retail prices of merchandise and services consumed by families in Puerto Rico.