LOCAL INFORMATION
13.3.1.L1
Jersey Cost of Living Index (RPI) - Quarterly figures and how to calculate increases over period of time, e.g. 3 years
Extent: Jersey
Updated 25 January 2021
---------------------------------------------------
What is the Cost of Living Index
1. Jersey's Cost of Living Index is also known as the Retail Price Index. It is not strictly a 'cost of living' index as the items used to identify changes in prices in the island cover a wide area, but are not necessarily items which would be essential to living. Prices of goods and services are monitored quarterly (2,500 prices are involved) by staff employed by the Statistics Unit, telephone 440423.
2. The price changes are expressed as percentage increases or decreases relative to June 2000 when the Index was given a value of 100. The percentage change over the last three years is a figure often requested for purposes of rental increases.
The latest RPI Report and an RPI Calculator can be found at https://www.gov.je/Government/JerseyInFigures/BusinessEconomy/Pages/Inflation.aspx
3. Figures for the Retail Price Index, excluding the costs of house purchase, RPI[X] are also available from 1995 to date.
4. A manual calculation can be performed using the table below.
To find increase over a period when there has been a base change within the period being calculated - this example takes into account the resetting of base and has been calculated over a five year period
Example for September 1997 - September 2002
| Take base for end of period and multiply by 1.716 Subtract the base from beginning of period |
109.7 x 1.716 = 188.25 153.80 34.45 |
| Calculate Therefore percentage increase over the period (5 years) |
34.45 x 100 153.8 = 22.40% |
To find increase over a period when the base has not been reset within the period - this example is after base was reset in June 2000 so ignores the old base, it is over a period of three years
Example for September 2000 to September 2003
| Take base from end of the period Subtract the base from the beginning of the period |
113.9 101.1 12.8 |
| Calculate Divided by the base from the beginning of the period Therefore percentage increase over the period (3 years) |
12.8 x 100 101.1 = 12.66% |
NOTE: The percentage increase can be calculated over any period using the two formulas above, just check to see if there has been a base change within the period being calculated and use the appropriate formula.
