Issue 1 | Published: January 2019
Consumer Price Index Issue 1 | Published: January 2019 DECEMBER 2019 Office of Management & Budget | Division of Economic Research | #5041 Norre Gade; Emancipation Station: St. Thomas, VI 00801 The U.S. Virgin Islands What is the USVI Consumer Price Index? The USVI Consumer Price Index (CPI), is a measure of price change in a basket of common consumer goods and services, as calculated by the Division of Economic Research (DER) of the Office of Management and Budget (OMB). For December 2018 to December 2019 CPI, all items showed a 3 percent rise. DER collects prices on a basket of selected items covering the following categories: Food, Alcohol, Recreation, Apparel, Housing, Transport, Medical Care, Education, and Other Goods and Services, on a monthly basis. Why is Consumer Price Index and Inflation Important? Monthly inflation indexes are then constructed following US Bureau of Labor Statistics methodology. …
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