The Department of Commerce's Central Statistics Division released yesterday the 2nd Quarter 2012 Consumer Price Index publication, which includes the indices from the 1st Quarter of 2011 to date.
The department delayed the release of Saipan, Tinian, and Rota's First Quarter 2011 to First Quarter 2012 due to the complexities of data collections, calculations, data reviews, coupled with the austerity measure challenges; capacity and resources. The collection process requires coordination between the Saipan, Rota, and Tinian teams as well as with the local vendors whose items are part of the overall “basket” of goods.
The statistical information reflected in this publication contains a wealth of information that measures quarterly changes in prices of a “basket” of goods and services, which are representative of purchases by private households in the CNMI.
To ensure representation of the basket is reflective of current purchasing pattern of households, the CPI was rebased after the 2005 Household Income and Expenditure Survey and the base year adjusted to 4th Quarter 2008. These changes help maintain the integrity of the CPI index, providing the people of CNMI with a more reliable measure of the changes in the cost of living.
This publication also presents results for the islands of Rota and Tinian, where price collection commenced in the 1st quarter of 2010. Included, are comparable graphs between the islands depicting goods of significance in the households.
“We are grateful for the long awaited CPI report as this will aid our NAP negotiations. However, with our ongoing discussions with the Department of Commerce, we hope to access a more detailed CPI pull-out report that will focus strictly on qualified consumable items under NAP,” said DCCA Secretary Melvin Faisao.
The department acknowledges the contributions of the many participating establishments for allowing the collection of prices on a quarterly basis for the selected items within the CNMI CPI. With their continued cooperation and assistance, the department will continue to publish the CNMI CPI to account for the changes in the prices of commodities consumed by people in the CNMI.
The CPI publication was made possible with the funding support of the Department of Interior's Office of Insular Affairs and the technical assistance and contributions of the Secretariat of the Pacific Community'sDr. Gerald Haberkorn and his staff Chris Ryan.
The department also commends the staff at the Central Statistics Division in Saipan, and the Resident Commerce directors and staff on Rota and Tinian for their hard work and dedication in publishing this product.
The 2nd Quarter 2012 Consumer Price Index Publication may be accessed via the department's website at www.commerce.gov.mp. (Office of the Governor)