Index of Retail Prices sees rises tapering off
The Gibraltar Government’s Index of Retail Prices have shown an 1.5% increase last quarter between July and October 2022, and an 8.5% rise over the past year.
The Index of Retail Prices is a measure of the change of average prices over a certain amount of time.
The complex formula used by the Government’s Statistics Office aims to understand the change of average prices every quarter.
This is done by monitoring the prices of certain items and logging any changes through a certain period of time.
Over the past year, the Index showed successive quarterly rises, with the latest tapering off.
This quarterly increase is less than the previous one between July 2022 and April 2022, when there was a rise of 3%. The quarter before, from January to April 2022, saw a rise of 2.9%.
But even if the increases have eased a little, they remain high.
By comparison, during 2020, the retail price index showed much lower increases of between 0.1% and 0.7% per quarter.