Virgin Islands (British)
Official title
Consumer Price Index.
Scope
The index is compiled monthly and covers middle-income households
in the British Virgin Islands, with a monthly income of betwen 500 and
700 US dollars in September 1983.
Official base
March 1985 = 100.
Source of weights
The weights and selected items were derived from a household expenditure
survey conducted in September 1983, covering a sample of 105 households
of middle-income families, with a monthly income of between 500 and 700
US dollars in September 1983. The weights were not adjusted to take
into account price changes between the survey period and March 1985.
Weights and composition
| Major groups
| Number of items
| Weights
| Approximate number of price quotations
|
| Food and tobacco
| 133 | 400 | ...
|
| Housing
| 11 | 206 | ...
|
| Furniture
| 24 | 62 | ...
|
| Clothing and footwear
| 23 | 115 | ...
|
| Transport
| 12 | 114 | ...
|
| Services
| 19 | 82 | ...
|
| Miscellaneous
| 15 | 21 | ...
|
| Total
| 237 | 1000 | ...
|
Household consumption expenditure
This excludes contributions to social security, income tax,
second-hand purchases and trade-in of used goods.
Method of data collection
Price data are collected by agents from 89 selected retail stores
and establishments in the greater Road Town (capital) and Virgin
Gorda. Most of the items are priced each month on the Thursday or
Friday nearest to the 15th of the month. Prices for
electricity, taxi fares, telephone and postage cost are
collected each quarter or half a year. The prices used in the
calculation of the index are the retail prices actually paid.
Sale and discount prices are not taken into account.
Housing
Rent data are collected quarterly among rented dwellings with two
bedrooms.
Specification of varieties
The specifications of items to be priced are given in detail, based on
the results of the household expenditure survey, in terms of brand,
make, quality and size.
Substitution, quality change, etc.
When a product disappears from the market, it is substituted by a
similar product.
Seasonal items
No special treatment is given to seasonal items.
Computation
The index is computed according to the Laspeyres formula as a weighted
arithmetic average with fixed base, using weights corresponding to
September 1983. Price relatives for the current and previous periods
are used to compute item indices.
Other information
Major sub-group indices are published.
Organisation and publication
Chief Minister's Office, Development Planning Unit: Consumer
Price Index Report
(Road Town).